Co-optex plans to enter online retailing

Tamilnadu Handloom Weavers' Co-operative Society, popularly called `Co-optex', is gearing up to enter the big league of retailing, with plans to go online.

Co-optex, which caters mainly to women's clothing, also seeks to better position itself so as to attract more women, particularly the young.

The apex co-operative body for handlooms in Tamilnadu is planning a big makeover through various measures, including revamp of stores, product evaluation, introduction of IT solutions and supply chain monitoring ahead of starting online retailing.

The plans are expected to involve investments to the tune of Rs100 crore.

Co-optex, which currently runs over 200 showrooms across the country with a total retail turnover of Rs200 crore, has set an ambitious target of Rs800 crore this year.

While this target may seem too high, Co-optex managing director C Umashankar says it is time Co-optex raised the bar and moved fast lest it lost its way.