TT to boost knitwear, casual wear sales

Monday, 27 February 2012

Delhi-based TT has plans to scale up domestic sales of branded knitwear and casual wear in the next two years. The company’s exports of yarn and fabric currently account for 65-70 per cent of its top-line. TT currently manufactures a range of mid-market causal wear, such as T-shirts and Bermudas, nightwear and hosiery brands for the domestic market which contribute to one-fifth of the turnover. To ensure higher value addition, the company is now aiming at enhancing knitwear sales to 50 per cent of the turnover.

After the global recession hit in 2008, many companies had to look for other avenues of revenue generation like focusing the domestic market. TT will continue to remain in the cotton yarn and fabric business, with focus on branded innerwear and casual wear (for future growth). The company now expects TT’s domestic business to grow at 25-30 per cent (2012-13), while export growth is pegged at about 15 per cent.

TT has plans to export branded knitwear to the Middle East and Africa and they are already exporting small amounts to a few retail chains in Dubai. Having remained low-key for over a decade, the company plans to consolidate its position by exiting from the ginning and oil businesses. The company sold one of its two ginning mills in Rajkot (Gujarat) to a local company for Rs 19 crores and is looking for a suitable buyer for the second unit in Rajula, Gujarat.

Meanwhile, TT has been awarded the ‘Master Brand’ status by the CMO Asia Wing (affiliate of CMO, Worldwide) at a function recently. The MD Sanjay K Jain received the honours for the brand in recognition for its popularity, reliability and credibility achieved over the years and also for reinforcing the value systems and following them for the last 41 years.