Shri Lakshmi Cotsyn to have EBOs

Shri Lakshmi Cotsyn (SLCL), an integrated textile player engaged in manufacturing and

processing end-to-end textile products, is launching exclusive retail outlets in tier II cities under its brand name Weaves. The company will roll out 100 franchise-owned stores in 50 cities in the next two years, starting with the first store in Chandigarh. An investment of Rs 10 crore has been made for this expansion, where each store will see an investment of Rs 5 lakh to Rs 10 lakh. Each store will occupy about 400 square feet space and stock 12 to 15 categories of home furnishing products like terry-towels, bedsheets, table-mats, footmats and shower curtains.

Weaves has tied up with 40 distributors across India for this venture. In the first phase, stores will come up in Chandigarh, Ludhiana, Jalandhar, Pathankot, Jaipur and Jammu, which will cater to the demand for high-end value-added products in the home furnishings market. Shri Lakshmi Cotsyn, which clocked revenues of Rs 418.63 crore for the quarter ended September 2010, already has a presence through 1,200 multi-brand outlets. It expects to record sales of more than Rs 30 crore and occupy nearly 10 percent of the organised textile market by FY ’13. The textile industry is worth Rs 20,000 crore, of which organised retail amounts to Rs 500 crore.