India's leading fabric manufacturer OCM India Limited has outlined its plans of a major transformational expansion through a series of new moves this year, including launching a luxury range of made-in-Italy suiting, having more store-in-store retail outlets and entering the ready-to-wear garments.
Outlining the company's new plans, OCM India Ltd Managing Director and President Mr. Nitin Jain said, "The shift initiates the company’s long-term vision to transform itself into a modern lifestyle company".
"OCM India Limited has a very loyal set of consumers and we are sure they will be pleasantly surprised by the expansion OCM Suiting is planning in its image and offerings. We want to offer larger range of products to OCM customers and become a company directly accessible to them through brand store-in-store retail outlets. We desire to turn into a lifestyle brand with greater interface with consumers. For this, we are now working on improving our retail distribution network with exclusive and shop-in-shop outlets."said Mr. Jain.
The company which is jointly owned by WL Ross and Co LLC and HDFC Ltd is introducing new products like Sweaters, Neckties, Lohis, Shawls, Mufflers and Blankets and adding Shirting into its offerings.
"For the first time, we are launching ready to wear garments like sweaters, shawls, and neck ties. Depending on the outcome and feedback of our initial launch, we will look at more additions to our ready-to-wear garments collection," said Mr. Jain.
Besides adding diversity to its product range, the Company also plans to turn greater attention towards retail, aiming for a long-term expansion from being primarily a textile manufacture to also a textile retailer.
"We have a plan of expanding 25 shop-in-shop outlets nationwide from the current . We believe shop-in-shop outlets work better as they put the brand in closer contact with the customers. Overall, our aim is to become a modern lifestyle company in the upcoming phase," added Mr. Jain.
As part of its plans, OCM India Limited is launching a luxury range of made-in-Italy suitings fabric this year and for this purpose it has tied up with hi-end, super premium Italian mills. The brand has also roped in noted Italian designer M. Cristina Fedriani for designing its premium Winter 2014 collection.
The Company outlined its new plans and strategies at a major leadership meeting in Gurgaon last week, where it introduced Fedriani’s collection and also honored some of its most valuable employees for their contribution to the company.