Punjab-based Trident, one of the largest terry towel manufacturers in the world, is set to launch a retail chain offering an entire range of home textiles.
LUDHIANA: Punjab-based Trident, one of the largest terry towel manufacturers in the world, is set to launch a retail chain offering an entire range of home textiles.
Abhishek Industries, the flagship of the Rs.15-billion group, will start retail operations in March 2008 under its brand name Trident. It will open outlets in Chandigarh, Ludhiana and Jalandhar.
"We will start initially with five stores in these three cities and then move to other big cities across India," P.K. Markanday, Trident's terry towel division president, said.
"The home textiles market in the domestic sector, especially towels, is not that organised. We want to change that."
Trident supplies mid- and high-end towels to some of the leading retail stores and brands worldwide. These include Wal-Mart, J.C. Penny, Sears, Target, Reebok, United Colours of Benetton, Nautica, Liz Clairburne, Chris Madden, Target, Guest-Supply and others.
Setting up its own brand in the domestic market through its own retail stores is part of Trident's strategy to move towards achieving its $1 billion target by 2010.
Trident's retail outlets will offer complete home - especially bedroom - solutions to clients.
The company's marketing head Rajneesh Bhatia says the time is right for Trident to launch its own brand in the domestic market.
"There is no branded towel market in India at present. It is the right time to be in retail," he said.
The company is implementing major expansion plans, including the setting up a new Rs.9.5 billion spinning and textile facility near Bhopal in Madhya Pradesh.
"Having made our mark in the international market, we now have plans to make our presence felt in the domestic market too. We are investing heavily in the latest technology to ensure quality products," Trident managing director and chief executive officer Rajinder Gupta said here.
Based out of "Manchester of India", as the industrial city of Ludhiana is referred to, Trident has its manufacturing plant at Barnala in southwest Punjab, 200 km from here.
Seventy percent of Trident's towel exports are to the US retail market alone, although it has significant presence in the European market as well. It exports towels to over 40 countries presently.
"We are the prime resource for towels to all big retailers in the country," Markanday said.
In India, the company is already supplying towels to top five-star hotel chains like Oberoi, Taj, ITC-Welcomgroup, Inter-Continental and others.
It is also supplying products to retailers like Shoppers' Stop, Reliance and Big Bazaar. The company has been given the international supplier award by Wal-Mart in 2001, 2003, 2005 and 2006 and by J.C. Penny in 2006.
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