By increasing multi-brand outlets and franchise stores, Bombay Dyeing is in plans to invest around Rs.100 crores for the revival of its brand. It is also planning new products for a turnaround in 2017-18. The company is reinventing itself for which major investments have been lined up. Soon after the company decided to exit textile manufacturing, the reinvention started more than a decade ago.
The manufacturing will be outsourced and from now till 2020, the Wadia group-owned company plans to invest more than Rs 100 crore in the brand and double its multi-brand outlets to 10,000 more than double its franchise stores to 500 and introduce 3-4 new products every year. These measures would help the segment more than treble its revenues to Rs 1,000 crore by fiscal 2020 from Rs 305 crore last year.
Stating that eastern India had a huge potential in the sector, it is said that market share in this region could be enhanced from 12 per cent at present to over 20 per cent. Bombay Dyeing is also setting up its in-house design studio and system for high-tech digital print to boost production in premium segment. It is also said that the company was finalizing tie-ups with e-commerce companies like Amazon, Flipkart and Snapdeal to reach the product at the customer's doorstep.