AIFL plans capital expenditure for retail stores, manufacturing plant

The Mumbai based Ashapura Intimates Fashion Ltd will be investing Rs 31 crore in 10 standalone retail outlets across Mumbai and a manufacturing plant in Gujarat over next one year. “Currently, we are supplying our products being manufactured at our plant in Thane to multi-brand outlets across the country,” told Harshad Thakkar, Chairman and MD, AIFL. Meanwhile, the company is under the process of acquiring 2.25 lakh sq ft land in Gujarat. Once the Gujarat plant becomes operational, it will recruit 2,000 people and AIFL’s production capacity will double.