The Rs 300-crore (Rs 3 billion) Vimal textile brand, launched 27 years ago by Reliance Industries, is preparing for a major comeback this April.
From 50 stores Vimal Textiles aims to have 150 in 3 years.
According to the agreement, RIL will transfer its existing textile business under the Vimal brand into a newly incorporated company in which RIL will hold 51 per cent stake. The remaining 49 per cent stake will be sold to Ruyi.
Reliance had been trying to bring the brand back to the forefront recently, after years of lull, through new ad campaigns highlighting a youthful range, called Unformal, in workwear.
Vimal also plans to emerge as the leading textile brand by 2009-10, on the back of an aggressive retail presence all over India and the introduction of innovative premium products. The brand will also offer complete solutions to export markets -- from fibre to garments -- and will sharpen focus on the global automotive furnishing business.
The stores are expected to provide services ranging from textiles, ready-to-wear garments and customised tailoring facilities.
Currently, Reliance outsources a bulk of the apparel needs of its three Vimal sub-brands, Black, White and Red. But, it is keen on establishing a manufacturing base for specialised garments such as suits and jackets. The new facility is likely to come up in south India in the next 6-9 months, said Reliance executives. However, the capacity details of the facility will be divulged later.
Vimal was a pioneer in making TV commercials for fabrics, the first to use Bollywood stars and cricketers as brand ambassadors and among the earliest to start a national retail chain. What happened to it?
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