A V Birla group company, Grasim Industries which is minting money from its cement division is all set for Retail expansion. Grasim has exclusive mens garment showrooms. Just a while ago, President of Grasim said,
We plan to add 30 more exclusive brand stores to the existing 45 by the end of this year. In addition, the company also plans to open 40 stores every year. 60% of clothing business revenue is from India while the rest is from US & Europe.
Grasim has roped in Bollywood star actor, Akshay Kumar as its Brand Ambassador. The Indian garment market is expected to have 15% market share in the global market by 2010 from its current share of 3-4%.
A V Birla group company, Madura Garments directly competes with Grasim’s retail operation in Garment business.