Tapping into the potential in economy garments retailing, Donear Industries Ltd has chalked out its plans to introduce men’s casual and formal wear as also an accessories brand within three weeks.
“We will formally launch the brand within three weeks. I cannot reveal the brand name, but can say that it will compete in the economy market as all products will be competitively priced and sold under various offers and schemes in the introductory phase. The brand gives value for money,” Sapan Surekha, president, Donear, told Indiaretailing.
Revealing the brand’s retail plans, Surekha said, “We are focusing on tier I and II cities, and targeting 200 exclusive discount stores by end of 2008.”
When asked if Donear fabrics will also be retailed through the same shops, Surekha responded: “We are keeping our fabrics and garmenting business as separate entities, hence the upcoming stores will only retail apparel and accessories.”
Donear manufactures suiting, shirting and trouser fabric. The company has seen immense growth with turnover touching the Rs 12,400-lakh mark in 2004-05, compared to Rs 925 lakh a decade ago. The profile of its customers includes readymade garment manufacturers and also a wide network of 40 agents, 250 wholesalers and 12,000 retailers throughout the country.
– Ranjan Kaplish