Bombay Dyeing eyes 20 percent growth from domestic textile business

Leading textile company Bombay Dyeing is aiming to achieve 20 percent growth in

revenue from the domestic textile business in the current fiscal. In the June quarter FY15, revenues from the textile segment soared 23 percent to Rs 134.73 crores over the corresponding quarter last year, but reported segment loss of Rs 1.62 crore.

Domestic textile comprises almost 85 percent of the textile division revenue. The company reported a loss of Rs 53 crores in the June 2014 quarter. The company plans to introduce new products for home solutions, including accessories. Plans are also in the pipeline to launch 50 new company-owned flagship stores this year to reach out to the young generation. It currently operates 22 company-owned stores out of a total 350 Bombay Dyeing stores across the country.

Established by Nowrosjee Wadia in 1879 as a small operation of Indian spun cotton yarn deep 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 with Disney for its kids' collection.