Plans to open 10 ‘Valentine’ stand-alone retail showrooms In Mumbai by March 2015
Ashapura Intimates Fashion Ltd., the flagship concern of Ashapura-Valentine Group, has entered the retail segment, according to a press statement by the company. It has opened a ‘Valentine’ showroom spread across 1,550 square feet at Hill Road, Bandra, Mumbai. The second such showroom will open next month at Mulund in the city. The company reportedly plans to set up 10 company-owned retail outlets across Mumbai by the end of March 2015.
Harshad Thakkar, Chairman & Managing Director, Ashapura Intimates Fashion, stated that the company also intends to expand retail showrooms on a franchise basis across India. These would sell intimate garments such as loungewear, bridal nightwear, honeymoon sets, bathrobes, nightwear, sportswear, legging, camisole, bra and panties.
Ashapura Intimates Fashion has its manufacturing unit at Thane. It is reportedly in the process of acquiring 2.25 lakh square feet of land in Gujarat for setting up another manufacturing plant to double its production capacity.
The company’s total income for the six months ended September 30, 2014, rose to Rs.78.29 crore, a rise from Rs. 71.64 crore in the corresponding period of previous year. Profit before tax was Rs. 4.09 crore, up from Rs. 3.54 crore.