Turtle targets to reach 100 outlets by June-July 2014

Turtle, the leading men’s lifestyle brand, is set to achieve the target of setting up 100 outlets across India by June-July next year.

“On average, we are opening three to four outlets every month and the number of outlets across the country has reached 75,” Director of Turtle Ltd Shitanshu Jhunjhunwalla said here Tuesday after the opening of second exclusive outlet in Raipur. This would be the third outlet of Turtle in Chhattisgarh even as company plans to open one in Bhilai soon.

The company had created seven clusters for promoting the product and opening the outlets.

“Barring Northern region that has a typical market, our focus will be on the three other region in the country,” Jhunjhunwalla said, adding that they would be concentrating more on domestic market that had been growing at a fast pace.

At present, Turtle Ltd shares only  2 to 3% on exporting the product. The company is among few brands from India with a foothold in the overseas market including Dubai, Bahrainm Muscat, Jeddah, Saudi Arabia and Kuwait.

Jhunjhunwalla said with revenues of above Rs 125 crore, Turtle Ltd is targeting to continue growing at a compound annual growth rate (CAGR) of over 30% in the next few years. New product launches such as the limited Khadi collection and men’s eye-wear range have made turtle a holistic men’s lifestyle brand, he added.