Bombay Dyeing Plans US Foray

Mumbai: Bombay Dyeing is planning to take its textile brand to the US market. To begin with it is taking its branded sheets to the specialty retail chains such as Bed Bath & Beyond and Linen & Things.

S.K. Gupta, Executive Director, Bombay Dyeing, told Business Line, “We might have our own distribution or could even join hands with someone to enter the US market. However, it will only be our sheet sets that we would be selling under the Bombay Dyeing brand.”

Considering the US market already comprises two-thirds of its Rs 130-crore export turnover, the textile company is already familiar with this market to make an entry under its own brand.

Adds Gupta, “The US is already our biggest market for exports. We are now looking at selling our brand at some of the specialty home textile chains. Going forward the brand may also be made available on the shelves of popular department chains such as Wal-Mart, Target, Macy’s and others.”

In spite of its export margins being impacted by the appreciating rupee against the dollar, Bombay Dyeing is poised to take its brand overseas and tapping into the US market is an imminent possibility. As Gupta says, “There has been an erosion of 5-6 per cent in our export margins but at the same time the Government is also giving sops and incentives for the textile sector. This would not stop us from entering the US market.”

Meanwhile, the company is gearing up to enter the West Asian market beginning with Dubai with the help of franchises. “There would hardly be any investment for the UAE market as the business would be run with the help of franchises. We would provide support in terms of brand building in these markets,” says Gupta who is banking on the south Indian community settled in the region as they are familiar with the textile brand.