TIL Desk/Business/New Delhi/ Baba Ramdev-led Patanjali Ayurved on Monday forayed into the fast growing branded apparel segment through its brand ‘Paridhan’ and expects a sale of around Rs 1,000 crore next fiscal.
The Haridwar-based firm plans to open around 100 outlets of Paridhan by the end of this fiscal and have a network of around 500 stores by March 2020, mostly on franchise model. It has introduced three brands — Livfit, Aastha and Sanskar– targeting customers across all age groups.
“This year, we would have a network of 100 stores ranging between 500-2,500 sq feet. We are aiming a turnover of around Rs 1,000 crore in the next fiscal,” said Baba Ramdev. He further added: “It would also be available online by next year. We are working on it.” While Sanskar would be a range of menswear, Aastha is a women’s brand and Livfit would have a range of sportswear and Yoga dresses.
“Our target is to compete with multinational companies in this field such as adidas, Puma,” he said adding the Paridhan range would be around 30-40 per cent cheaper and would target ordinary people.