Textile major, Bombay Dyeing and Manufacturing Company, is re-strategising its plans to overcome the economic crisis faced by the textile industry, a top company official said.
"We are re-evaluating our plans based on the current market scenario. We have taken up cost-cutting across various areas and optimisation as well as innovation in our products," Bombay Dyeing Deputy Managing Director, Ness Wadia, told PTI in Mumbai.
The textile industry is facing problems and exports have slowed down.
"But Bombay Dyeing has a strong retail presence and we are not worried of the slowdown and whether our stocks will sell or not. Our collections are well-received," Wadia said.
Asked on the company's retail plans, Wadia said, "We have done some adjustments in our retail plans based on our requirements," but did not elaborate.
On investments slowing down, Wadia said that the retail market today is in turmoil.
"We will delay investments in projects which are not expected to succeed. I won't say investment has slowed down, but it is definitely not as per earlier plans, because the market has crashed," he said.