SP Apparels Ltd, a textile manufacturing and retailing company from Coimbatore, said it has bought the ‘Natalia’ brand of womenswear for an undisclosed sum from Chennai-based SM Apparels in a bid to enter the Rs5,600 crore organized market for womenswear in India.
The company, which acquired the better-known ‘Crocodile’ brand last year, hopes to fortify its position in the growing fashion apparel market in India with this acquisition, said managing director P. Sundar Rajan.
‘Natalia’, a niche brand for western wear “with an ethnic flavour”, has outlets in Chennai and Gurgaon, a New Delhi suburb. It garnered revenue of Rs2 crore for SM Apparels in 2006, said director Sujata Pai.
SP Apparels said that it would look to open six stores catering exclusively to Natalia’s products by September this year in Ahmedabad, Bangalore, Indore, Hyderabad, Kochi and Kolkata, and has budgeted a minimum of Rs5 crore for this.
Simultaneously, it has lined up nine company-owned stores for the Crocodile brand. Currently, it has two such stores in Kochi and Bangalore.