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Indo Count forays into domestic bed linen market
Indo Count Retail Ventures Private Limited (ICRVL), a subsidiary of Mumbai-based publicly-listed Indo Count Industries Limited (ICIL), on Wednesday forayed into the Rs 13,000-crore domestic bed linen market with the launch of the ‘Boutique Living’ range of products.
Hyderabad: Indo Count Retail Ventures Private Limited (ICRVL), a subsidiary of Mumbai-based publicly-listed Indo Count Industries Limited (ICIL), on Wednesday forayed into the Rs 13,000-crore domestic bed linen market with the launch of the ‘Boutique Living’ range of products.
“We are targeting to capture about 25 per cent share of the domestic bed linen market in the next five years,” Asim Dalal, Managing Director, ICRVL, said here. ICIL currently exports the ‘Boutique Living’ range of products to over 54 countries and has 32 product patents and innovations.
It has a production capacity of 90 million metre at its plant in Kolhapur, which it plans to expand to 120 million metre by 2020. The company will be spending up to $40 million for expansion by 2018.
“We are looking at placing our products in over 200 outlets in the first year, of which 35 to 40 outlets will be in Andhra Pradesh and Telangana. Our target is to reach 600 outlets and make it (Boutique Living) a Rs 500-crore brand in the next five years,” Dalal said, adding that the company was currently focusing on north, south and west India and would enter the eastern part in the second phase.
Indo Count Industries Limited’s scrip ended the trade at Rs 849.15 on the BSE on Wednesday, up 6.93 per cent, over the previous close of Rs 794.15 per share.
