Bombay Dyeing and Manufacturing Company was able to narrow its losses to Rs 34.43 crores for the second quarter ended on September 30, 2014, compared to Rs 62.19 crores in the same quarter of last fiscal. Its net income during the quarter under review increased 8.72 percent to Rs 550.54 crores from Rs 506.36 crores for the same period of last fiscal, Bombay Dyeing said in a filing to the BSE.
In a bid to reach out to young Indian consumers, Bombay Dyeing, the flagship textile company of the Wadia Group has planned aggressive retail expansion apart from revamping its product portfolio to make it relevant for the today’s shoppers.
Established by Nowrosjee Wadia in 1879 as a small operation of Indian spun cotton yarn dip dyed by hand, Bombay Dyeing has been one of the largest and successful textile companies in the country. Changing its focus from manufacturing only company to brand building, it recently roped in fashion designers Wendell Rodricks and Anita Dongre, for its linen section, and is also partnering Disney for its kids' collection.