Bombay Dyeing & Manufacturing has begun revamping its retail operations so as to increasingly target the youth, CEO (Retail) Ashok Kaul said here on Wednesday.
The company sells its home textiles under its retail operations.
Increased marketing through modern-trade formats, launching exciting products in its home textiles range and increased visibility through quantum leaps in its ad spends, were the three tenets of the strategy that the company had formulated to increase its sales, Mr Kaul said.
The company is also toning up its e-commerce site to improve the delivery. It also sells through other e-commerce sites.
From its presence in 350 stores (mostly franchisees), Bombay Dyeing has marked its footprint in 50 more stores, of which 10 are in multi-brand retail stores. While the focus remains on metros and large towns, but increased penetration would be made in smaller towns. “Bombay Dyeing products are perceived as high value brands. We are now keen to connect with the youth by launching signature lines in collaboration with two leading designers,” Mr Kaul said adding that company had already expanded its range to include home-décor items such as rugs, blankets and mattresses.
Bombay Dyeing has a 50 per cent share in the Rs.1,000-crore market for home furnishing, of which a mere five per cent is with the organised sector.
“Our aim is to grow the organised market itself,” Mr Kaul said. Although the company closed the first quarter with a loss, the retail business clocked a 23 per cent revenue growth.
