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Bhartiya group targets 15% revenue from local market by FY'17

Press Trust of India  |  Mumbai 

With domestic demand for branded apparels growing, export-oriented garments and accessories maker Bhartiya group is eyeing 15 per cent revenues in 3 years from local as well as global brands sold within the country.

The Delhi-based buying house expects to double its sales to over Rs 600 crore by FY'17.

Bhartiya International, the group's flagship company, is a contract manufacturer of leather garments, leather accessories and textiles for over 60 global brands, mostly European brands. It has also started focusing on the US.

"We have been exporting products to over 60 global brands, predominantly in Europe and entered the US recently too. But over the past few years, we have been seeing growing acceptance of branded products in the domestic market," Bhartiya International chairman Snehdeep Aggarwal told PTI.

"So, we are planning to target branded apparel and accessories, both the domestic and international here and, expect revenues from the domestic business to contribute 15 per cent of total revenue over the next three years," he added.

Currently, exports contribute nearly 95 per cent of sales, while only 5 per cent comes from the domestic market.

The company supplies products to brands like Hugo Boss, Zara, Levi's, Mango, Guess, Wrangler, All Saints, Tommy Hilfiger, S Oliver, Napapijri, Wrangler, Timberland, Riverisland, French Connection, M&S, Esprit, Benetton, Burton and Fastrack.

"Foreign investment in retail, growing retail real estate activity, improving spending capacity of customers...All these give us a visibility of sales from domestic market," he said, adding that by FY17 they also expect their income to double to over Rs 600 crore.

It expects to close the financial year 2013-14, ending March 31, with sales of Rs 300 crore.

First Published: Sun, March 02 2014. 12:40 IST