The Hindu Business Line : Vijay Textiles to open home décor showrooms

As part of this plan, the company will open showrooms in New Delhi, Bangalore and other major cities in phases. While the Delhi outlet will come up next fiscal, the one in Bangalore will be opened during the following year.

"Opening outlets in Delhi and Bangalore calls for huge investments as property rates are very high there. We will have our own property in those cities to open the outlets," Mr R. Malhotra, Finance Director of Vijay Textiles, told Business Line here on Wednesday.

The company opened its second showroom in Hyderabad with an investment of Rs 20 crore. "We would increase focus on retailing as it offers quick cash realisation unlike in the wholesale business. We, however, do not cut into the business of our wholesalers. We would rather focus on mega retailing," he said.

Vijay Textiles will target NRIs, institutions, airlines and hotels. "They form majority of our sales," he said.

At the five-level outlet in Hyderabad, the company will put on display 20,000 designs, with the price range of Rs 25 to Rs 1,500. Mr Malhotra said the furnishing market would grow further, in tune with the expansion of the housing sector. "Earlier, people were contented just owning properties. Now the stress is more on decorating them. They don't mind spending Rs 20,000 more on decorating their houses," he said.

The company, which registered a turnover of Rs 77 crore last year, is aiming for Rs 82-85 crore this year.

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