Coimbatore becomes saree centre

Coimbatore’s Oppanakara Street is turning into a hub of saree companies with some of the most renowned saree houses looking to shift there as they are not finding enough space in Chennai.

Oppanakara Street is already home for famous saree shops like Chennai Silks, Sri Ganapathy Silks and Pothys and RmKV Silks are eager to enter Coimbatore sooner or later.

However, both the companies are taking different routes to enter the market with Pothys looking to buy out Shobha Textiles and RmKV all set to launch its own shop in Coimbatore.

Shobha Textiles was a profit making company until the bomb blast in 1998 and by the time it got ready for re-launch, Chennai Silk had already taken over the market.

Managing partner of Pothys, S Ramesh confirmed the plan to acquire the company and said that the deal was still in negotiation stage. Experts have put the price of Shobha Textiles around Rs10 crore.

In September, 2005, Ganapathy Silks, based in Sankaranoil and a textile retailer in Tirunelveli district had its first showroom with a cost of Rs10 crore.

Kalyan group from Kerala which is a big textile group had set up its shop in the city a few years ago. Textiles firms are betting on the fact that 40-50 jewellery shops in the nearby Raja Street will help them as the shoppers looking for one-stop shopping will definitely ferry around the Oppanakara Street.


Courtesy : fibre2fashion