Textile company Sangam India is planning to open between ten and 15 retail stores in tier I and II metro towns in India by next year.
The company plans to offer more than 100 products at these stores.
Go deeper with GlobalData
Sangam India currently operates across 700 multi-brand stores across India, and plans to increase this to 1,000 outlets by the end of this financial year.
The Indian textile firm has created the 100% subsidiary Sangam Lifestyle Ventures to manage its retail business.
Sangam India chairman R P Soni said that they have plans to open their exclusive brand outlets by the end of this financial year, according to PTI.
The company has already started its online retail business with c9fashion.com, and also collaborated with many online retailers across the country.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataSangam Lifestyle Ventures will be concentrating on development of its C 9 Fashion branded stores and focus on expanding its multi-brand outlets.
Soni said: "We have received an encouraging response to our recent foray into seamless garmenting. What enthuses us is that this response is despite the fact that we are yet to fully roll out our brand and marketing campaigns.
"We are hopeful of a much higher revenue contribution and better operating margin from this segment going forward."
For the last fiscal year, the company reported a 49.39% increase in net profit.
The Sangam Group is one of the largest producers of PV dyed yarn in Asia, and introduced a seamless garment manufacturing facility, which can produce 3.6 million pieces a year.
