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Co-optex surpasses sales target

Special Correspondent

CHENNAI: Having crossed the sales target of Rs.125 crore for the year ending March 2008, Co-optex has set itself a retail sales target of Rs.140 crore for the current year.

Co-optex ended the last financial year with Rs.126.17 crore in sales revenue, an increase of Rs.21 crore over the corresponding period last year. Cash sales increased by Rs.16 crore and credit sales by Rs.5 crore.

It conducted 383 exhibitions in different parts of the country and in the Andaman and Nicobar islands that fetched around Rs.16 crore. It introduced new varieties of saris and shirts. The increased income of Rs.21 crore came through the new products.

Talking to The Hindu, Co-optex Special Officer and Managing Director M.P. Nirmala said: “As much as 75 per cent of the income came from silk and cotton saris and 25 per cent from men’s garments. We also had a good income from home textile products. All our outlets did good business. The Madurai, Cuddalore, Chennai, Thanjavur and Vellore regions exceeded their sales target, while the Bangalore and Coimbatore regions almost made it. To increase our reach, we are opening a showroom at Mahabalipuram.”

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