TT targeting Rs 1,000 cr turnover by 2015

With plans to expand its kid’s product portfolio, decade old brand, TT Textiles is looking forward to achieve a turnover target of Rs 1,000 crores by 2015. Known for its innerwear and thermal wear lines the TT brand also has sub-brands like Hotpot,

Elite, Aldo and Titanic under its umbrella. Talking about the brand’s reach, Sanjay Jain, Joint Managing Director, TT Limited says, “We have a comprehensive range of thermal wear for men, woman and kids in variety of fabrics like brushed/raised interlock fleece fabric, drop needle fabric and quilted fabric. It’s retailed in the price range Rs 150 to Rs 400.”

The company has a retail network of 20 EBOs, 10, 000 MBOs and also supplies to various organized retail chains. “To achieve our plan of increasing our reach, we hope to increase the number of EBOs to over 100 in the next two years and are undertaking Rs 150 crores expansion plan to be completed in the next 18 months,” Jain informs.

With consumers looking for fashion element in terms of colors, styles and fabric even in the thermal wear range, this year, for its winter range, TT has introduced mélange of colors in the quilted fabric range (Elite sub brand) and kids range in drop needle fabric under the Aldo sub brand. “Better fibers are being used in thermal wear now to achieve same level of warming though the fabrics are thinner. This development has proved comfortable for the wearer since he doesn’t have to wear heavy thermals to stay warm,” he explains.

Jain says the excise duty now being levied on branded garments has certainly had a negative impact on readymade garment retailers since they had to increase rates that resulted in low footfall in stores. Talking about its affects, Jain opines, “India has a very large unorganized segment in textiles which doesn’t pay excise duty. This has led to a big gap in costing for brands like us and is proving to be a disincentive for growth for many small brands as they fear entering the excise net.”

The Rs 750 crores thermal wear category in India is equally split between brands and the unorganized segment. To stay ahead, brands need to emphasis on research continuously and come up with innovative fabrics. However, he is optimistic about the season ahead. Last year’s winter season had brought in good results and he expects similar results this year as well. Jain says, “As there is no carry forward stock from last year, this season has already started with a bang and we are already seeing shortages in the market.”