Finally, it has happened. India-born FMCG and Ayurved medicines company Patanjali has launched its first clothing store in India.
Baba Ramdev backed Patanjali Ayurved on Monday made an entry to the apparel industry with the flagship store of Patanjali Paridhan. The organization wants to now go up against global organizations like Adidas, Nike, Puma and Levi’s among others through Paridhan.
The brand is named as Patanjali Paridhan means which means dress in Sanskrit. It is their first clothing store in New Delhi’s Netaji Subhash Place, a big business hub in North Delhi.
Baba Ramdev said that the organization wants to have 100 stores operational before the finish of this fiscal year and further extend it to 500 by end of March 2020. The organization likewise progressing in the direction of making the brand accessible online by one year from now.
While the first outlet is a company-owned store, the company will adopt a franchise model for expansion of the stores. “We expect Patanjali Paridhan to be a ₹1000 crore business by the end of the next fiscal year,” he added.
“We believe this will provide a boost to India’s domestic textile industry which is facing many challenges,” he said adding that the Patanjali Paridhan will give strong competition to international brands by offering consumers good quality products which are priced 30-40 per cent lower than other brands.
“We don’t have a Swadeshi brand which has a strong presence across all segments in the textile sector. We hope Patanjali Paridhan will inculcate a feeling of pride among Indian citizens,” Ramdev said.
Discussing development of stores, Ramdev said that store size could go from 500 sq ft to 2000 sq ft and the organization will likewise take a gander at conceivable outcomes of opening separate stores for every one of the three brands.
According to the available information, these sub brands under the Paridhan Umbrella brand: LiveF Aastha and Sanskar.
KM Singh , who is heading the activities of Patanjali Paridhan included that the organization is sourcing these items from more than 90 sellers the nation over and has an in-house group of designers.