Thursday, February 11, 2010

TT to expand to 50 franchise stores by end of 2010

Knitwear and fabrics brand TT on Thursday said it will expand its exclusive retail chain and introduce new ranges in the premium segment for women and kids as part of its plan to achieve a turnover of Rs 200 crore from its garment business by next fiscal.

“Our strategy is two-pronged with focus on both market expansion and product expansion. We are aiming to increase the turnover of our garment business to Rs 200 crore next fiscal,” TT Ltd Joint Managing Director Mr Sanjay K Jain said.

TT had a total turnover of Rs 250 crore in 2008-09, of which the garments business contributed Rs 50 crore and the figure is likely to touch Rs 100 crore this fiscal, he added.

Mr Jain said TT will expand both its exclusive retail chain and roll-out new ranges as part of the business plan.

“Last year we started our concept of small neighbourhood stores (which) operated on the franchise model and so far we have opened 20 such outlets. Our aim is to have 50 such stores by end of 2010,” he said.

Regarding product diversification, Mr Jain said: “In the innerwear segment, the focus is on our premium brand ‘Coco Tree’ and we will roll-out the entire range for ladies and kids by March. Besides, we are also coming out with a special range of premium casual wear like T-shirts and pyjamas.”

The company, which specialises in innerwear and casual wear, also said it will also be expanding its dealership network across the country to grab additional share in the Rs 15,000 crore Indian market. - PTI