Parafern Garments, a Tirupur-based apparel manufacturer, is aiming at garnering first-year revenues of about Rs 30 crore from its corporate logo T-shirts and leisure wear brand – Corporate Identitee.
Unveiling its new merchandised garments brand recently, Parafern Garments’ president Sylvester Saldanha said: “Corporate gifts and logo T-shirts together is a highly-organised over USD 40-billion market in the US. In India, we are taking the first infant steps.”
Currently catering to about 20 American labels including golf and corporate T-shirt brands Cutler and Buck, Pebble Beach, Tehama and Ping, and V-Soft, Deloitte and Air India in the domestic market, Parafern Garments’ business volumes grew to USD 30 million (about Rs 144 crore) in 2007.
At present, the company has a capacity to churn out three million pieces of merchandised garments a year.
“With plans to have a much wider product mix soon, we hope to cross the USD 10-million (Rs 48 crore) revenue mark from the brand in FY11,” Parafern CEO Thirumoorti said.
Source: Business Standard