The Punjab based women's intimate wear retail chain of Oswal Group, Straps plans to increase the number of retail stores to 40 by March 2008, Mr Adish Oswal, Managing Director, Oswal Retail Pvt Ltd said here on June 11.
He clarified that the expansion plan is part of the rapid expansion plans being drawn up by the company across the country with increasing number of malls in the country has also lured to tap the opportunities available.
The industry experts estimates that the organised intimate wear market in the country is around Rs 2000 crore and is further expected to grow at 70 percent per annumby 2011.
Mr Adish added that Straps is expected to garner at least five percent of the market share by 2009 and is targeting a turnover of Rs 150 crore by March 2010; whereas they are also investing close to Rs 35 crore in the project and is looking at an investment of another Rs 50 crore by March 2009.
The retail chain offers 9-12 international brands in four different categories: lingerie, nightwear, swimwear and maternity wear.
Oswal Group is a premier textile group of Northern India, mainly into spinning & dyeing of all types of yarn in different blends & manufacturing of garments.
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