Garment Mantra Lifestyle Ltd to setup new centralized integrated facility in Surat, Gujarat

Garment Mantra Lifestyle Ltd (Erstwhile Junction Fabrics & Apparels Ltd) has announced that GMLL is going to setup a new centralized integrated facility in Surat, Gujarat to efficiently cover the western region and scale up the operations of Poorti (textile wholesale surplus division) and also give an impetus to Price Mantra (apparel convenience store) which will strengthen their brand visibility in the region.

The proposed integrated facility will scale up business operations and expected to add to the company's revenue in a more significant manner in the next 2 years; and further promote brand loyalty by catering to a large customer base. This facility is dedicatedly planned strategically to build and grow strong revenue models from Poorti: a textile wholesale surplus hub and gradually enhance the presence of Price Mantra: an apparel convenience store model. This facility extends upto ~10,000 square feet of area and is equipped with modern facilities to manage operations efficiently and the management expects to commence operations in this quarter i.e. Q4FY22.

Commenting on the Milestone, Mr. Prem Aggarwal, Chairman & Managing Director, Garment Mantra Lifestyle said "We are happy to announce the launch of our new warehouse facility in Surat, Gujarat. Coming up on this new facility, we are working on our endeavor to engage more partners from the region, with optimized and economical fulfillment solutions. This new location will improve the region's access to inventory and enhance the services we offer customers.

We firmly believe that this facility will be one of the most important milestone in the business history as we see ourselves expanding our operational footprints beyond Tirupur, Tamil Nadu, we envisage that we promote and uplift the business experience with all our business engagement partners and customers We firmly believe that this model will be exemplary for the textile business community in the region and expect that we will contribute in enhancing the state welfare ina meaningful manner, we also propose to create an environment similar to Tirupur which is very conducive in an inclusive way.

Our loud responsible vision is to ramp up a very large number of Price Mantra Store model in the coming 2 to 3 years across tier 2 and 3 towns of India and this is our first large remarkable initiative in this exercise."

Shares of Garment Mantra Lifestyle Ltd was last trading in BSE at Rs. 185.15 as compared to the previous close of Rs. 154.30. The total number of shares traded during the day was 222285 in over 1131 trades.

The stock hit an intraday high of Rs. 185.15 and intraday low of 160.10. The net turnover during the day was Rs. 40561107.00.

Source : Equity Bulls

Keywords

GarmentMantraLifestyle INE653S01010 IntegratedFacility Surat Gujarat