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Alok Industries to split and form Alok Homes & Apparel

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Textile manufacturer Alok Industries Ltd has planned to invest around Rs 40 crore to expand its domestic retail network by the next fiscal and is also in process of splitting its retail arm to form Alok Homes & Apparels Pvt Ltd.

Confirming this, Sunil Khandelwal, chief financial officer, Alok Industries said: “We plan to add around 100 stores and take our total retail stores to 125 by next year.”

Besides, the company is also planning to expand overseas. “As part of our overall strategy, we are exploring Europe and the Middle East markets,” informed Khandelwal.

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