Bombay Dyeing to invest Rs 100 crores in brand revival, looks to treble revenues by 2020

By

Maverick Martins

Published
Jan 4, 2017

Bombay Dyeing is looking to invest around Rs100 crores in the revival of its brand by increasing multibrand outlets, franchise stores and also planning new products for a turnaround in 2017.

"We are reinventing and major investments are lined up," Nagesh Rajanna, the company CEO for its retail segment, told reporters at a press conference while announcing the company's revival strategy.

The reinvention started more than a decade ago, soon after the company decided to exit textile manufacturing.

"Manufacturing will be outsourced. From now till 2020, the Wadia group-owned company plans to invest more than Rs 100 crore in the brand, double its multibrand outlets to 10,000, more than double its franchise stores to 500 and introduce 3-4 new products every year," Rajanna said.
 
Rajanna said these measures would help the segment more than treble its revenues to Rs 1,000 crore by fiscal 2020 from Rs 305 crore last year.
 
"The retail in textile segment currently contributes 17 per cent to the company's overall revenue. It will expand to 33 per cent by 2020," he added.
 
Stating that eastern India had a huge potential in the sector, Rajanna said that market share in this region could be enhanced from 12 per cent at present to over 20 per cent.

Bombay Dyeing is also setting up its in-house design studio and system for high-tech digital print to boost production in premium segment, Rajanna said adding tie-up was also being made with e-commerce companies like Amazon, Flipkart and Snapdeal to reach the product at the customer's doorstep.