Stori: Product expansion is on the anvil

After a positive winter season and turnover of Rs 48 crores, brands Stori and Red Flame are upbeat about the New Year. Opines Manoj Kumar Bhaiya, Director, Stori Fashions, “Winter 2011 went off well. We grew by about 40 per cent. And Red Flame

 was the major reason for this growth. With good bookings for summer 2012, we expect good growth in terms of volume and value. We will add products like shorts, cargos, three-four pants as a part of product expansion plan.” With a turnover of Rs 48 crores, in the next two or three years they target a 30 to 40 per cent growth.

Apart from shirts and trousers they also have a denim collection under Red Flame priced between Rs 1,000 to Rs 1,800 in slim and narrow fit. Commenting on the brand collections, Bhaiya says, “Both the brands use natural fibers like linen and cotton and have no polyester content. For this season linen has a share of 30 per cent in our product line. Linen is becoming a lifestyle product while cotton has become regular wear.”

The company’s range is currently present in 1,150 MBOs across. “We have three exclusive brand outlets through franchise route at Chennai, Kolkata and Bangalore. For us, the best zone for business is the south. It gives us 30 per cent of our business.

The Company has a manufacturing base at Bangalore with a capacity of producing 1,20,000 pieces a month. “We have a fabric trading business too, where we do 15 lakh meters a month. We wholly import fabrics from top Chinese mills supplying to the world’s best brands,’ Bhaiya elaborates.

Welcoming the government’s move to allow FDI in retail, Bhaiya says, “As a manufacturer, we welcome FDI because the new entrants will look to manufacture in India. They will use our manufacturing facilities whether under our label or under their label. I feel 60 per cent of their sourcing will be from India, so our manufacturing will get a boost. And even as a brand, I think FDI will benefit us.