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The Rs 300-crore (Rs 3 billion) Vimal textile brand, launched 27 years ago by Reliance Industries, is preparing for a major comeback this April.
"Set up in 1980, the brand's growth was stagnant for a whiledue to lack of innovations, reason why we are planning newer marketing strategies to revive it, beginning next financial year," said P SRajiv, general manager - retail, textile division of Reliance Industries.
The company is planning to launch a separate apparel brand in ready-made formal menswear, besides introducing newer range of fabrics to its existing textile division.
The apparel range would sport a different brand name and would cater to premium, mid and affordable segments.
The company is also bullish on establishing retail identity for its apparel brand.
In the first year, it would set up close to 20 company-owned-managed stores in only metro cities, each spread over 2000 sq ft on an average.
The company has also signed on Maurizio Bonas, of master suit-craftsman from Italy repute, to introduce new designs in men's formalwear to especially cater to theyounger clientele in India.
"As 65 per cent of the population is below 35, we would be looking at rolling out a range in ready-made men formals to cater to this section," said Rajiv.
One of the new designs, tailor-made especially for the Indian climate and is expected to go down well with the younger clientele, would be in the form of a 'shirt-jacket' which would look like a suit but feel like a super-light shirt.
"Although a 'shirt-jacket' looks like a formal suit, the lightness and comfort of a shirt is achieved by eliminating any structure and lining from the traditional jacket. This design in suits should go down well with humid Indian climate. Also, this style would find men wearing suits comfortably throughout the day," claimed Bonas.
The company would also introduce the 'Minova' fabric, a finer range in worsted material, in addition to its existing range in synthetic and worsted fabrics.
The company is also looking at launching a ready-made women's formal wear collection not only in suits but in sarees as well.
"Once our apparel brand in men's formalwear is successful, we would look at introducing similar formalwear range in ready-made garments for women too," informed Rajiv. "We are expecting a growth of close to 25 per cent next financial year," he added.