Madura Garments to pump 150 crore on expansion

Apparel major Madura Garments, a unit of Aditya Birla Nuvo, plans to expand its showroom chain for Vanheusen brand to 200 stores in the next three years from 50 presently, with an investment of Rs 150 crore.    

The company would open one showroom every fortnight for the next three years to take the total number of showrooms to 200 in three years. It plans to open stores in tier 2 and tier 3 towns as well, including Srinagar, Ahmedabad, Surat, Mysore, Thrissur.    

Last month, the company reveals its plans to invest Rs 400 crore to set up 90 Peter England People family stores across India.

Madura Garments is looking to emerge as one of the top three retailers in the country in five years. It aims to cross the Rs 6,000-crore turnover mark in the next five years through an increased retail presence. The business size is currently Rs 1,320 crore..