NTC joins apparel brand race

The state-owned National Textiles Corporation (NTC) has reported about four-fold increase

in its total income in the fiscal 2011 to Rs 2,741 crores. Most of this has come from sales of mill lands in Mumbai and Ahmedabad. During 2010-11, the company had garnered Rs 2,011 crores by selling six defunct mill lands aggregating 50 acres. Flushed by this successful revenue generation and shedding non-required baggage, the company is set to expand its presence in the retail market. NTC chairman and MD, K Ramachandran Pillai says they want to make the brand value of the company big by the end of the current fiscal. He added that the expansion of the branded segment will transform the company from a single-product (yarn) to a multi-product organization -spinning, weaving, processing and garmenting. They will produce garments in their integrated units in Hassan (Karnataka) and in Amravati (Maharastra).

NTC, which has been financially revived, now plans to strengthen its core operations by launching a new range of branded garments. A unit of about Rs 60 crores for garmenting has been set up in Amravati and another unit of about Rs 260 crores has been set up in Hassan. Currently, NTC retails ‘Entyce’ shirts and ‘Rassa’ home furnishing in the domestic market through its retail stores. Massive scale revamps of its existing stores are being planned as the company is ready to float tenders inviting experts to refurbish the stores and to market the products. At present, the firm plans to revamp its showrooms which are not generating profits. Of the 92 showrooms across the country, only 37 are profit-making.