Chandigarh: While the current economic slowdown is prompting many retailers to scale down plans, Ludhiana (Punjab)-based Venus Garments (India) Ltd, manufacturer and exporter of knitted garments with over Rs 230 crore turnover, is working on an ambitious expansion plan for this year.
It plans to open another 50 stores in the next one year with an average floor area of 600-700 sq ft each. In smaller towns, Venus Garments plans to hold exhibitions four-five times a year. Since launching its first exclusive factory outlet on the Jalandhar bypass in Ludhiana in October 2008, Venus Garments has opened 42 garment stores in 2008-09 in Punjab, Haryana, Uttar Pradesh and Jammu and Kashmir, Chandigarh, Delhi and MP.
Anil Jain, chairman of the Venus Group, points out, “Venus Garments has nearly two decades of experience of supplying international quality knitwear to global retail chains like Wal-Mart Mexico, Old Navy (owned by Gap Inc), Tom Tailor, The Children’s Place, Sam’s Club and Suburbia. The unique selling proposition is quality at down to earth prices.”
Starting with a modest 20x20 square feet space in Ludhiana’s congested Dal Bazar in the mid-60s, the Venus Group of companies now has more than 6 lakh sq ft of floor area and eight units across the country. The product mix includes a range of T-shirts, sweat shirts, track suits, ladies wear, kids wear, socks etc at prices ranging from Rs 100 to Rs 500.
The company has 11 factory outlets in Punjab (at places like Ludhiana, Jalandhar, Amritsar, Patiala and Phagwara), 14 in Uttar Pradesh (including Ghaziabad, Meerut, Kanpur, Lucknow, Agra, Varanasi and Mathura), five each in Haryana, Jammu and Kashmir and Delhi, and one each in Chandigarh and Madhya Pradesh (Gwalior).
Last year, Venus Garments was conferred with the Dun and Bradstreet ECGC Indian Exporters Excellence Award in the medium exporters category.
Source : The Financial Express