Indian fabric manufacturer S Tex is expanding its retail presence in the country with an expansion plan worth Rs. 100 crore.
The textile company will initiate its retail expansion from Bengaluru and plans to add four new retail stores in the city over the next two year. Chennai, Hyderabad, Kochi, Pune, and Kolkata will also have stores soon.
Srinith Sreedharan, Managing Director, S-Tex, in a statement, said, “The company after tasting success in the export market is now foraying into domestic market with pan India presence in major cities.”
The market is expected to grow at a compounded annual growth rate of 8 percent by value to touch US $ 2.9 billion. Thus, Sreedharan added: “In the same period, curtains and upholstery and rugs and carpets business is expected to log in growths of 8 percent and 9.4 percent, respectively.”