The Hindu : Business : Siyaram to target garment sector

Online edition of India's National Newspaper
Thursday, Dec 30, 2004

Business

Business

Siyaram to target garment sector

The Vice Chairman and Managing Director of Siyaram's Silk Mills, Ramesh Poddar, at a press conference to launch `Featherz', a new fabric, in Mumbai on Wednesday. — Photo: Shashi Ashiwal

MUMBAI, DEC. 29. Siyaram Silk Mills is planning to target the ready-made garment (RMG) sector and has launched a new brand `Featherz' created from yarns made of micro fine fibres.

"Till date, we were not supplying to RMG sector. Siyaram is now planning to replace the import requirements of Indian readymade garment manufacturers by supplying yarn made from micro fine fibres,'' the company's Vice Chairman and Managing Director, Ramesh Poddar, told reporters here today.

India had weak outsourcing partners for the RMG segment and the company was going to provide import substitutes soon.

It was also planning to target the RMG sector in the U.S., the U.K. and Europe, Mr. Poddar said.

Meanwhile, the company today launched the `Featherz' brand with features of wool, cotton and silk which would be available in premium blends of polyester viscose and lycra, he said.

Siyaram is planning to produce eight lakh metres of Featherz brand a month with an estimated annual turnover of Rs. 120 crores.

With this company's turnover would reach Rs. 415-420 crores in the year 2005-06 marking over 25 per cent overall growth, he said.

Mr. Poddar said the company was also expecting about 20 per cent growth in the readymade segment alone. The company was already initiating dialogues with organised retailers to boost the supply to the RMG segment, he added.

— PTI

Printer friendly page
Send this article to Friends by E-Mail

Business