Hyderabad’s Maqdoom Brothers enter the US market

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Hyderabadi sherwani , kurta pyjama and Jodhpuri suits is now entering American shores. The 126-year-old Maqdoom Brothers from Hyderabad are opening their retail outlet in Chicago, after setting up a distribution centre last month.

With an initial investment of Rs 5 crore, the company plans to establish two more distribution centres in Texas and New York next year. Plans are also on to build a cottage industry in India to manufacture its products locally after training the designers. The target audience base for their ensembles is the Indian Americans and American fashion lovers.

The decision of investing in America was made after company representatives visited the country to attend the first Select USA summit organized by President Barack Obama to attract investments to the US and also because of the exchange rates and trade concessions on land and duties and tax benefits offered by the government. Select USA is a body in the US department of commerce established by Obama in 2011 to promote and facilitate investments into the US.

Maqdoom Brothers aim to earn one million dollars (over Rs six crore) turnover from the first year of their business in the US. Having three stores in Hyderabad and three manufacturing facilities, including one each in Delhi and Mumbai, its current annual turnover is 1.2 million dollars (over Rs seven crore). After establishing footprint in America, the company would expand to Canada, followed by a shop in Britain.

Apart from Maqdoom Brothers, Coimbatore-based Shri Govindaraja Textiles, a yarn and clothing manufacturer which plans to invest around 40 million dollars (over Rs 244 crores) in US.