Bombay Dyeing and Manufacturing Company, Nusli Wadia’s 137-year-old flagship company, has drawn up a major strategy to revive its textile retail business and is looking for a turnaround in 2017-18.
Nagesh Rajanna, CEO of the company said that they are reinventing and major investments are lined up for its retail segment. The reinvention started more than a decade ago, soon after the company decided to exit textile manufacturing.
“Manufacturing will be outsourced. From now till 2020, the company plans to invest more than Rs 100 crore in the brand, double its multi-brand outlets to 10,000, more than double its franchise stores to 500 and introduce 3-4 new products every year,†Rajanna said.