Mudra Lifestyle has no plan to bring its own brand to market

Mumbai, Jan 29 (UNI) Mudra Lifestyle, which is an integrated garment manufacturing company, has no plans to come up with its own brand in the market in the near future.

Rather, the company wants to take advantage of the retail boom being witnessed today. Talking to the reporters on the sidelines of the company's announcement of its plan to enter capital market, Executive Chairman and Managing Director Murarilal Agarwal said,'' Brand building is an expensive exercise and hence we are not interested in going for it for the time being''.

However, he added that his company was holding its talks with a number of big domestic and foreign firms that are entering the retail segment of the country in a big way. He agreed that his company was engaged in the brand improvement in the fabrics sector right at the moment.

While Reliance Retail has already made its foray into retail sector, Wal-Mart has been permitted to tie up with Bharati to join the retail sector of the country through cash&carry way. Other MNCs that are likely to follow suit include Tesco and others. Mr Agarwal said that his company was supplying the garments to big garment houses like Peter England on a large scale. Also, its fabric products are available at the oputlets of most of the retail chains in the country.

Right now 84 per cent of the company's products the company are being exported to countries like Brazil, UK and Europe while the remaining products are meant for domestic market. However, it wants to make the ratio at 50:50 on completion of its expansion plan.

Mostly the men's wear of the company are being consumed within the country itself, whereas its products in the form of women's wear are being exported. Replying to a media query, he said that his company was launching 3000 designs in each sector of garment manufacturing every season. Also, he said that his company has roped in nearly 70 dealers in the country that own retail outlets numbering 2000.

UNI