Bombay Dyeing on retail expansion drive, to open 100 franchise stores

Bombay Dyeing & Manufacturing Company, which recently forayed into the apparel sector with the launch of its menswear brand ‘Cezari’, has planned massive expansion. The company will set up 100 franchise stores across India as it eyes revenues of Rs 500 crore by 2020. These stores will house the Cezari brand alongwith the company’s home textile products.

The company currently has 27 company-owned stores, 3000 multi-brand stores and over 400 franchise stores across India besides all the major e-commerce platforms. The company witnessed a 129 percent rise in net profit to Rs 28 crore for the first quarter ended June 2019 as against a net loss of Rs 94 crore it had posted in June 2018.

The company’s revenue for the April-June period grew by 64 percent to Rs 649 crore as compared to Rs 397 crore it had reported during the corresponding quarter of last fiscal. The polyester segment contributed Rs 341 crore to the company’s overall revenue while that from retail and textile was at Rs 57 crore. Bombay Dyeing’s earnings before interest tax depreciation and amortization (EBITDA) also witnessed a huge rise to Rs 158 crore in June 2019, up 636 percent from Rs 21 crore in reported June 2018.