Grasim Textiles plans to open 100-120 retail stores
As part of its capex plan, the company has allocated Rs 122 crore for textiles, insulators, and other items in FY24.
KOLKATA: The textile division of Grasim Industries is planning to expand its footprint in smaller cities and towns by opening around 100-120 retail stores over the next couple of years, a senior official of the company said.
It also hopes for a surge in demand for textile products in the upcoming festive season. “We are optimistic about the growth story of India. We plan to expand in both retail and wholesale businesses. Over the next two years, we plan to open 100-120 Linen Club retail stores in smaller cities and towns,” said Satyaki Ghosh, CEO, (Domestic Textiles).
Linen Club is Grasim Textiles’ premium brand of linen products. Linen comprises about one-third of the company’s textile business of around Rs 3,000 crore. Currently, Grasim Textiles has around 217 brand stores across the country. Ghosh, who was in Kolkata to inaugurate a Linen Club store, said the company also plans to expand its reach to 12,000 multi-brand retailers in these markets, from about 8,500 at present.
“This will help Grasim Textiles reach a wider audience and increase its market share,” he said. As part of its capex plan, the company has allocated Rs 122 crore for textiles, insulators, and other items in FY24.
