Sangam India plans to venture into retail, set up C 9 brand stores

Leading integrated textile conglomerate Sangam (India) is planning to enter the retail market by establishing a subsidiary Sangam Lifestyle Ventures. The subsidiary will focus on new exclusive chain of stores under the fashion brand name C 9.

Through these exclusive stores in Tier I and II cities, Sangam will be able to offer more than 100 exclusive range of products. Also, the company has planned to open 700 MBOs along with 10-15 EBOs. It has started an online shopping site c9fashion.com in collaboration with several leading online e-retailers.

R P Soni, Chairman is excited by the response he has received so far even though the brand is yet to be launched. The company will begin its branding exercise by the end of the month and will push C 9 as its umbrella brand for retail business. He is hopeful of getting a much higher revenue contribution and better operating margin from this segment.

Sangam India is the largest producer of PV dyed yarn in Asia. It was established in 1984 and today employs more than 10,000 people. It has diversified into infrastructure, power, steel and garment industry.