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NTC launches 300 retail stores for 'value for money'

Updated: Oct 03, 2013 06:05:53pm
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Hyderabad, Oct 3 (KNN)  Making a move to provide quality products at affordable rates, the National Textiles Corporation (NTC), which works under the Union textile ministry, has launched its own garment brand, Indian Republic with launch of over 300 retail stores.

NTC has decided to open over 100 exclusive stores before the end of the current fiscal and the balance by the end of 2014.

The stores will be initially launched in Bangalore, Hyderabad, Delhi and Chennai and will offer affordable men’s wear garments priced between Rs 399 and Rs 1,499.
The stores will later offer women wear too in the coming months.

Textiles Minister K Sambasiva Rao, who unveiled the brand logo along with Tourism Minister K Chiranjeevi, said the initiative was aimed at creating own brand in domestic market with focus on bringing down prices.

Branded products were being sold at 200 per cent their manufacturing cost and the NTC initiative would bring down the costs by 40 per cent, he added.

The NTC has tied up with four garment manufacturing units for supply of these garments and the company expects to reach a turnover of Rs 250-300 crore.

The Ministry was working on doubling the number of National Institutes of Fashion Design under its purview giving more opportunity to women and skilled workforce. 

NTC Chairman and Managing Director R C Sinha said that over 120 retail stores will be set up across the country by March 2014.

Further, NTC also plans to set up a composite textile unit at an investment of Rs 500 crore in Andhra Pradesh. (KNN/SD)

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