Digjam rejigs business, eyes 20% market share

Tag : Kashmir Fabrics

Digjam Ltd, formerly known as Birla VXL Ltd and part of the SKBirla Group, has revived its fortunes in the Rs 1,600 crore worstedsuitings market in India. Following the financial and operationalrestructuring a few months back, the company has geared up to takeon competition in a big way in the worsted suitings market, said CLRathi, managing director, Digjam Ltd.
Speaking to FE, Rathi, who was here to promote its latest brands,said: We are geared up now. We are looking at increasing ourmarket share from 14% to 20% of the Rs 1,600-crore worsted suitingsmarket in India in a short span.
The company will focus on marketing high-end and premium brands ofworsted suitings in India while targeting the mass segment withbrands at competitive prices, he added.
According to Rathi, the company is looking at export market in abig way. Half of its total production of 5.5 million metres isbeing exported to countries like Italy, the US, Europe, MiddleEast, Far East and host of countries. Italy alone accounts formore than 1.2 million sq m to 1.4 million sq m per annum, he said.The company invested nearly Rs 30 crore for restructuring,upgradation of equipment at its Jamnagar factory in Gujarat.
The company will start introducing value-added products through itsown design and innovative blendings. We plan to introduce a newvariety by September which cost Rs 10,000 a metre. It is a productmade of Kashmir wool and is for all seasons, he said.
Similarly, under our Global Cool fabric brand, which is aimed ataddressing global warming, the company will be introducing newstyles and trends with rich fabrics, supreme weaves in range ofcolours, he added.
According to Ravinder Sharma, vice president, (sales andmarketing), the market share of the premium products in the worstedsuitings has gone up from 1% to 5% recently and is growing fast.We hope to become a niche player in this category.
The company has over 10,000 strong dealer network across thecountry. We plan to add 70 exclusive outlets in the currentfiscal, taking the total size to 100 outlets, he added.