Vimal to open 38 new stores in FY'11

MUMBAI: Vimal, the flagship textile brand of Mukesh Ambani-led Reliance Industries, plans to add at least 38 stores to its retail network this fiscal, a top company official said.

At present, the company has over 380 stores pan-India. "We have 380 stores in the country and plan to increase this by at least 10 per cent in FY 11," RIL President (Textile Division) Anand Parekh told PTI here.

However, he did not reveal the investment required for this expansion.

"We will continue to open more new stores. We will also continue to support our franchisees in order to enhance the brand--Vimal," Parekh said.

RIL manufactures over 12,000 design-shade combinations every year in polyester wool and woollen, polyester viscose and woollen fabrics under the Vimal-brand.

The company's manufacturing capacity in consumer fabrics is over 21-million metres per year, of which 50 per cent is exported.

"Currently, we are exporting to 50 countries and plan to export to more countries going forward," Parekh said, adding "in the organised/branded sector, we should be number two and expect to grow further."

The company recently launched its new range of anti-microbial suiting fabric DE02, which can arrest growth of fungi and bacteria to keep garments odourless in hot and humid conditions.

"With the use of this new technology, Vimal will turn out to be the only company in the world to offer such a formula in all of its product range at no extra cost," Parekh said.