Intimate-wear brand MAS Brands, which sells products under Amante label, is scouting for acquisition opportunities in the Indian market and looking to have 100 standalone stores in the next 3 to 5 years to cater to different customer needs.
"Our aspiration is to be the leading intimate wear brand in whole of South Asia. We are looking at a portfolio of 3-4 brands for us to play meaningfully in India. Currently, we are looking for acquisition options. The brands can be in the premium category or one step below that," MAS Brands India CEO Vivek Mehta told PTI.
In this regard, the company will launch UK-based high- street lingerie brand Ultimo in India next month.
The company, which is looking to clock a turnover of Rs 150 crore in the current financial year, plans to launch brands for different customer needs such as a mass market brand targeting younger customers.
MAS Brands India, which launched Amante brand in 2007, is looking at operating 100 standalone stores in 15-20 cities in the next 3-5 years, Mehta said.
At present, it operates 10 exclusive brand stores in India.
When asked if the company is looking at raising money from investors to support its expansion plans, Mehta said: "At this point, we are fairly open to it. At present, our parent is supporting investment for expansion. Though we are not actively seeking investment, but in future we may need to open new avenues to support growth plans."
As part of its expansion plans, the company is also looking at launching Amante brand in other neighbouring markets such as Bangladesh.
At present, it sells Amante brand in Sri Lanka, Maldives and Pakistan. MAS Brands is a subsidiary of Sri Lanka's MAS Holdings.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)