| May enter international markets.
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| Koutons India Retails Ltd will expand its productline and launch its own brand of shoes by 2008.
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| The company is also planning to enhance its current store size to 5,000-6,000 sft after launching the three products. Besides, it is looking forward to establish its operations in the international markets by entering Saarc and the Gulf countries after consolidating its position in the domestic market.
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| Talking to Business Standard, DPS Kohli, chairman of the company, said, “We are planning to launch women’s western wear and children’s wear by 2008. We also plan to launch our own brand of shoes. This will be part of our extension of the existing line of products.”
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| HS Sidhu, executive vice-president, said the company was planning to increase the current space of its stores to accommodate the new range of products.
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| “Our franchisee stores are currently spread over some 1,200 sft, which will be increased to 5,000-6,000 sft after the launch of the new range of products,” he added.
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| The company, which had stopped exports in 2003 to consolidate its domestic network, is planning to enter the international market.
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| “We plan to enter the Saarc countries and West Asia after consolidating our position in the domestic market. We currently have 600 Koutons stores across the nation and plan to take it to 1,000 by the end of the next year. We plan to have around 2,000 stores of our new brand Charlie Outlaw. After this, we will look at foraying into the international market,” Kohli said.
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| The company, which had recently set a record of opening 100 stores in a single day, is aiming to break its own record by opening 200 stores across the country.
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| On how the company would fund its expansion, Kohli said, “We have recently raised Rs 112. 60 crore through private equity with contributions from UTI, Argonaut and others. We plan to hit the market with an IPO of Rs 140 crore by April 2007.”
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| However, he said they were yet to file the draft red herrings prospectus.
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| The company has 60 stores in Gujarat and Maharashtra and plans to double the number by the end of 2007.
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| “We have seven stores in Ahmedabad and this number will be increased to a dozen in 2007. We have planned a store each in Jamnagar, Junagadh, Bhuj, Gandhinagar and Gandhidham, Valsad, Mehsana, Godhra, Ankleshwar, Amreli, Veraval, Morbi and Surendranagar among others,” said Sidhu.
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| The company’s sales stood at Rs 158 crore in 2005-06 and it has set a target of Rs 425 crore for FY06-07. |
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