Siyaram goes the FMCG way

Mumbai based textile company Siyaram Silk Mills (SSM) will soon add deodorants and perfumes to their portfolio. The company plans to use its franchise network for distribution of these and entering the FMCG segment. Siyaram already has male-oriented accessories such as ties and belts under its brand. The new FMCG products would be an extension of the same.

The plan is to hike the number of Siyaram shops from 100 to 300 in the next two years. Currently, SSM has a sales turnover of Rs 900 crore, of which Rs 130 crore comes from its garment brands - Oxemberg, MSD and J Hamstead while the balance is from the Siyaram fabric brand.

With an export turnover of Rs 50 crore, the company takes its fabrics to Europe and the Gulf countries. However, in Europe, Siyaram supplies its fabric to other retailers and manufacturers, while in West Asia the brand is present in certain multi-brand outlets.