Mumbai: Textile major Mafatlal Industries, part of the Arvind Mafatlal Group, is targeting a turnover of Rs100 crore by end of FY’10 in its school uniform business by expanding its presence in metros.
“We are targeting a turnover of Rs100 crore by the end of fiscal 2010 in the school uniform segment,” Mafatlal Industries vice-president (Sales and Marketing) Raghunath M B told PTI.
Last year, the company had clocked a turnover of Rs550 crore in its garment business, he said. For the year ending March 2009, its turnover target stands at Rs575 crore.
The company, one of the largest manufacturers of quality textiles, has forayed into the school uniform market in the country through “Wonder Years”, it said today.
“The Indian school uniform market size is around Rs10,000 crore and is growing at an annual rate of of more than 30%,” Raghunath said.
The market is mainly dominated by the unorganised sector, he said sounding a caution about fake fabric, which may lead to fading, pilling and colour bleeding.
Profit margins for the organised sector is not more than three per cent, he said.
“The unorganised sector makes about 15%. They have a lot of saving potential because they don’t have to spend on excise, licences and power,” he added.
It is now focusing on Mumbai, Delhi, Kolkata and Chennai, in the high-quality, branded garments segment. The company is a major player for branded garments in the south.