The worsted suiting fabric manufacturer OCM India Limited is planning to enter into ready-made garments (RMG) by the end of the 2012-13 financial year. The company will initially launch formal wear including shirts, trousers and jackets, and later add semi-formal and casual wear. OCM India has gone in for an image makeover, which will see the number of its exclusive stores go up to 40-50 over the next three years. Currently there are 15 exclusive OCM stores. As per reports in the media, SK Singhal, CEO, OCM India Limited, spoke about the company's retail expansion in Gujarat and specified that the RMG will be introduced after establishing the image makeover.
OCM India is majority owned by WL Ross and Co, the US-based stressed asset management company. This is the first time that the Company has initiated a brand revamp since its inception in 1924. The makeover will include expansion of its production capacity, product range and retail presence in the country. The brand emphasis will now be shifted to youth in the age group of 25-30. In one year, four exclusive stores are to be opened in Vadodara, Surat and Ahmadabad. The manufacturing capacity of the company is being expanded with an investment of Rs 15 crores. OCM India Ltd is looking doubling its revenue to Rs 350 crore by end of the 2012-2013 financial year, from Rs 135 crore in the 2011-2012 financial year. The company exports about one-third of its volume to markets like the US and Europe.