Denim brand Mufti eyes Rs 1,000 cr sales in 3 yrs on expansion

Denim brand Mufti on Thursday said it is eyeing a revenue of Rs 1000 crore in the next three years, backed by its expansion in the footwear segment.

It is also looking at ramping up its distributional network for its footwear to 500 stores, including multi brand outlets, its stand-alone stores and its existing network of retailers in the coming year, from 100 stores at present, the brand said in a statement.

"With the current estimated size of Rs 34,400 crore, the footwear segment is expected to grow over Rs 55,400 crore in the coming five years. The expansion into the footwear segment is a part of the company's vision of becoming a Rs 1000 crore brand in the coming three years," Mufti founder and managing director Kamal Khushlani said adding that it will begin to expand into newer categories. ****************** MCX Clearing Corp joins Asian securities depository assn ACG *
"Becoming a member of ACG marks an important development, especially in the light of MCXCCL being the first clearing corporation in the commodity derivatives market in India to have recently commenced its operations. It is in line with our strategy to support a vibrant commodity market in India. Moreover, it is a step towards our integration with global financial markets and reflects our commitment to implementing the highest standards of international best practices," MCXCCL managing director and chief executive officer Narendra Ahlawat said. ******************** Nagpur Patanjali Food Park to begin ops in March 2019 *