India : Madura Garment Eyeing Overseas Expansion

In a strategic move, the Rs 382-crore Madura Garments, a division of Indian Rayon and Industries Ltd, is planning to expand the number of its franchisee-operated 'Planet Fashion' stores in the Middle-East and Bangladesh from 10 to 16 within a year.

In addition, the company is also planning to set up one 'Planet Fashion' store in Sri Lanka for the first time this year. Depending on consumer response, the company will then go ahead with its expansion plans there, informs Madura Garments national retail head Vishak Kumar.

As for the Indian market, the company is planning to expand the number of its franchisee-operated 'Planet Fashion' stores from 30 to 50 within a year across all metros, adds Mr Kumar.