Indian Terrain Fashions Ltd, the company which recently de-merged with Chennai-based apparel manufacturer Celebrity Fashions Ltd, is planning to foray into premium jeans wear segment soon. It has set a target of Rs 150 crore as turnover this year, an increase of 23 per cent from the last year.

The company would import denim exclusively from a US-based manufacturer, who also manufactures denim for premium brands in US, said a company official. The company currently offers a range of men's wear including smart casuals and formals.

BSE  |  NSE Price

Also Read   Related Stories News Now - Textile stocks drop on declining profit - BS People: S Surya Narayanan - Celebrity Fashions gets court nod - Indian Terrain to expand portfolio; aims to triple turnover - Celebrity Fashions to rejig business - BS People: S Surya Narayanan

Also Read   Related Stories News Now - Markets end on a strong note - Nabard FY14 operating surplus soars 28% to Rs 1,635 cr - RBI eases banks' term deposit restrictions - NMDC Q4 net down 21.74% to Rs 1,642.28 cr - Balrampur Chini Q4 profit up by 15% More

He added the segment would be above Rs 2,500 for a pair of jeans. At present the company is present in the mid-segment, with prices above Rs 1,000 for a pair of jeans.

According to the company's annual report, the branded wear business stakes in India is around Rs 60,000 crore. Predominant amount of business in the sector for the country is through branded retail and this includes all kinds of small and big brands sold through small and big sized retailers.

The brand Indian Terrain has recorded an increase of over 50 per cent during the fiscal 2010-11, at Rs 121 crore as against the Rs 80 crore posted during the previous year. It has set a target of Rs 150 crore for the current fiscal. Currently, the company has 71 exclusive outlets, across the country.

Indian Terrain was incorporated in September, 2009, as a the domestic brand of Celebrity Fashions Ltd, which has exports of apparels to various countries.

The management decided to de-merge the Indian Terrain division as a separate entity, in order to explore the growing demand in the domestic market. The Madras High Court approved the demerger scheme between Celebrity Fashions Ltd, Indian Terrain Fashions Ltd and its shareholders and creditors in August 2010.

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Markets end on a strong note - Nabard FY14 operating surplus soars 28% to Rs 1,635 cr - RBI eases banks' term deposit restrictions - NMDC Q4 net down 21.74% to Rs 1,642.28 cr - Balrampur Chini Q4 profit up by 15%

Tags : Indian Terrain | jeans segment | apparel manufacturer | Celebrity Fashions   Read Business news in  Advertisements -  Journey on, We are by Your Side. Click here to know more -  2 Lac Apartments, 1 Lac House / Plots. Click here -  Help a Child Achieve her. Click to know more -  Benefits Upto Rs. 2.36 Lakhs on the Fully Loaded TJet Petrol. -  The Best Seller is Also the No. 1 in Mileage. Click here -  Watch The Film Here. Click here to know more.. -  Leader in Passenger Car & Automobile Tyres. Click here -  1 billion in saving for Unilever without any tangles. -  A Brand New Server at a Price That Fits Your Budget. Click here -  Learn How One City is Running on FOOD SCRAPS. -  One Partnership Endless Possibilities. Click here to know more -  Helping doctors detect diseases earlier, saving costs & extending lives. -  36 Lakhs can get you a pool of Luxuries. Click here -  Which is the best plan for your daughter -  Check out the TRUE COLOURS of your Stocks, Now for FREE! -  One of the leading business schools in the world.Know More