Firm to open 45 exclusive stores in FY11, focus on Oxemberg, MSD
Online PR News – 03-January-2013 – Mumbai – For Siyaram Silk Mills most of the sales revenue still comes from multibrand outlets. But, the company is increasing the number of its exclusive outlets for the sake of enhancing brand awareness of its lesserknown fabric and apparel brands. The thirty year-old manufacturer of blended fabrics is known by its flagship suitings and shirtings brand Siyaram’s. However, the Rs 1,000 crore company has 13 brands of fabrics and apparels, of which Siyaram’s account for Rs 600 crore and J Hampstead Rs 200 crore.
“We are now focusing on each and every vertical and want to grow all the brands in the portfolio,” said Rahul Akkara, vice-president, Siyaram Silk Mills. The portfolio of brands include Oxemberg, MSD and Mistair. Casamoda is a home fabric brand launched last August, Unicode caters to corporate uniform fabric and Little Champs too is a new brand for school uniforms. The company has licenced Italian cotton shirting fabric brand Moretti and Royale Linen is a new linen fabric brand.
The company finds exclusive brand outlets as a means to showcase all its brands, though they do not add much to the sales revenue. The company has 105 exclusive stores, while the products are retailed through around one lakh multibrand outlets in India. “The sales contribution from EBOs is now negligible. But, they showcase all the brand and products and will help us grow the visibility of each brand.
We will open another 40 to 45 stores by the end of this financial year and in three years we plan to have around 200 to 250 stores,” said Akkara. Siyaram Silk Mills hopes EBOs to contribute around 20 per cent to the revenues in three years. The company will also expand the distribution network of its apparel brands in the coming years. “Apparels in general are growing faster than fabric. Oxemberg and MSD have a considerable presence in the southern markets. We will expand their distribution network in other markets as well,” he said. Apparels currently contribute only Rs 200 crore to the company.
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