Garment Mantra Lifestyle diversifies into other products
Garment Mantra has already set up its strengths in the garment segment by sourcing high quality materials from larger makes at a healthful discount and featuring high quality products and solutions at a competitive selling price to its buyers. Getting ahead this sourcing ability, the company is in the remaining course of action of obtaining Twenty Twenty Investing LLP ‘Price Mantra’, which is into the retailing business, Garment Mantra claimed in a press release.
The USP of ‘Price Mantra’ is to resource the branded products and solutions at much more affordable level to the MRP. Leveraging on the similar design, the company has now widened its solution categories from garment and added many new products and solutions like electronics, home appliances, fashion components, and so forth in its portfolio. With this diversification ideas in position, the company has entered into its first bulk get invest in really worth of ₹110 million, at a steep and big discount to its MRP, the release claimed.
The bulk get procurement of ₹110 million consists of diverse products and solutions like clothes, electronics, home appliances as nicely as fashion components. The company is probably to current market these products and solutions via its integrated system which would leverage its present sales community for clothes and new products and solutions group will be bought via blend of B2B and B2C system.
For B2C, the company will be utilising Value Mantra system and for B2B, the company would be leveraging on its marriage with the present customers. The new business design will be the major development driver as nicely as margin accretive for the company. “Going ahead, the company is likely to scale up this business considerably as the company is in the remaining leg of integrating total Group functions. On top of that, the company’s functions are based in Tiruppur which is one of the greatest sourcing marketplaces for big figures of wholesalers and shops across the place and also from worldwide marketplaces. This will also help the company as there is a big footfall of the wholesale purchasers which appear across to resource their products and solutions. It would be a lot easier for the company to current market these products and solutions and establish its foothold in the new solution segments as nicely,” the release added.
“We at Garment Mantra are delighted to update our stakeholders about our diversification into the new products and solutions segments. Just lately, the company has procured bulk of many branded products and solutions this kind of as clothes, electronic products and solutions, fashion components and home appliances. This is the major leap ahead in get to diversify our business. We are really optimistic about this design in which we have planned to offer these products and solutions via our each the platforms, B2B as nicely as B2C. Additionally, we have locational benefit as nicely. We are in the course of action of obtaining our team organizations and that will help us in growing our business considerably in coming yrs.
“We would be one of the only organised and detailed company to adopt this exclusive design of bulk invest in of branded products and solutions at steep and big discount to the current market selling price. We endeavour to fulfil the model aspiration of just about every Indian by featuring them products and solutions across categories at hugely competitive selling price. Our exclusive business design is one of its type in the organised segment, which is hugely scalable. We have already demonstrated comparable design in the clothes group via our retail undertaking – Value Mantra and would now replicate the similar across many categories like electronics, home appliances and fashion components. We are really optimistic about the new diversification and would push considerable development for our company in coming yrs,” claimed Garment Mantra chairman and controlling director Prem Aggarwal.
Fibre2Fashion Information Desk (RKS)
Garment Mantra Life-style Limited (formerly Junction Materials & Apparels Ltd), the Tiruppur-based company engaged in the business of garment producing and selling of each knitted materials and knitted clothes, is widening its horizons by diversifying its portfolio further than clothes into products and solutions this kind of as fashion components, electronics and home appliances.
