Financial Daily from THE HINDU group of publications
Wednesday, Jul 14, 2004
Financial Daily from THE HINDU group of publications Wednesday, Jul 14, 2004 |
||
|
|
||
|
Corporate
-
Outlook Himatsingka plans foray into bed linen Abhrajit Gangopadhyay
Bangalore , July 13 SILK fabrics-exporting major Himatsingka Seide Ltd plans to tap local and international bed-linen markets to spur growth. The move comes close on the heels of the company's foray into the retail segment through its Atmosphere chain of shops. Himatsingka is scouting for a new production facility in a new location for this and is conducting a feasibility study. The bed-linen market has synergies with the company's existing export business and the Atmosphere chain, which offers significant growth prospects, officials have said. The retail foray through Atmosphere has been "successful" as the company hopes to account for close to 20 per cent of sales from the fabric division in the current fiscal. Himatsingka plans to operate 14 such stores in the country by the fiscal-end. The company, which is currently focusing on building the nascent Atmosphere brand in the domestic market, might explore the option of extending it overseas. Himatsingka Seide feels that exports are likely to pick up in 2004-05 as the global economy shows signs of rebound. The company is likely to increase its existing capacity by close to 30 per cent to cater to the robust demand in the current year. Himatsingka has set up a wholly owned subsidiary in the US and intends to establish a design studio in New York through this subsidiary to harness talent more efficiently. The new subsidiary is likely to strengthen the distribution network in the US.
More Stories on : Outlook | Silk
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|