G Hosiery to flag off Rs 80-crore expansion

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Kolkata-based G Hosiery Private Ltd, one of the oldest players in the innerwear market, will invest Rs 80 crore to expand its innerwear brand Amul. Meanwhile, the company is targeting a turnover of Rs 210 crore this fiscal, up from the Rs 150 crore during 2006-07 fiscal year.

“We will invest around Rs 80 crore for business expansion. The fund will be generated from internal accruals and debt. We expect the expansion process to be completed in seven to eight months’ time. This year, the company’s turnover will touch Rs 210 crore, and our target for 2008-09 fiscal is Rs 325 crore,” Sandeep Seksaria, executive director, G Hosiery, told Indiaretailing.

At present, the manufacturing units in Tirupur and Kolkata produce 3.5 lakh units per day. The company plans to augment the existing capacity to 5 lakh units in the next fiscal. Elaborating the company’s plans, Seksaria informed: “In order to cope with the rising demand, we are planning to set up a new factory in New Delhi and augment the capacities of the existing ones. Amul is also mulling over entering the premium range of children’s and women’s innerwear market in a big way.”

Currently, the company has about 550 distributors across the country catering to around one lakh retail outlets. Amul Innerwear is the third largest innerwear brand in the country. It has had the number one position in Uttar Pradesh, Bihar and Jharkhand for more than a decade.

– Vishnu Rageev R, Bengaluru Bureau

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