Patanjali Ayurved Limited: Patanjali to launch apparel line by Diwali 2018
Patanjali
Ayurved is set to launch traditional Indian dresses by this Diwali. The Baba
Ramdev promoted brand’s new clothing line was earlier set for April launch but
it was delayed due to logistic issues.Patanjali’s spokesperson SK Tijarawala
says the apparels will include denim, sweaters and shirts. “We are working to
meet the deadline and if not Diwali, then by January next year.” Experts say
the company’s focus will be on manufacturing low cost apparel that is expected
to cater to the spiralling middle class.
Much of the manufacturing is expected to be outsourced. A report by the
Federation of Indian Chambers of Commerce & Industry (FICCI) states, “India
is among the top apparel consuming nations, just behind the EU, the US, China
and Japan. “The domestic apparel market of India is worth US$ 59 billion as per
the 2015 figures. It has registered a robust growth rate of 10 per cent since
2005 despite global uncertainties and slack demand. The Indian domestic market
has performed better than the largest consumption regions like the US, the EU
and Japan where depressed economic conditions led to lower demand growth.”
The apparel sector is the big growth story for the Haridwar-based company that
plans to line extend Ramdev’s brand to increase its turnover. Patanjali’s growth
is phenomenal post its launch in 2006. Last year, the company posted a turnover
of over Rs 10,000 crore. Starting in North India, the company is currently
targeting West Bengal and Southern states. “We are getting a tremendous
response in the southern states like Kerala,” Tijarawala added. Ramdev
announced his company’s tie up with eight e-commerce companies, including
Amazon India, Flipkart, Paytm, BigBasket, Shopclues and Grofers to sell its
products.
Source: Et.Retail.com,India
Wednesday, 24 January 2018