Financial Daily from THE HINDU group of publications
Monday, Jan 17, 2005
Financial Daily from THE HINDU group of publications Monday, Jan 17, 2005 |
|
|
|
|
|
Marketing
-
Retailing Tropical Clothing plans retail foray Anna Peter
Mumbai , Jan. 16 KOLKATA-BASED Tropical Clothing Company Pte Ltd is in talks with venture capitalists and non-textile corporates to infuse Rs 16 crore -18 crore for a possible foray into retailing. The company has plans to set up its exclusive retail outlets under the name of India Lifestyle Stores - four stores in India and two either in London, Dubai, Hong Kong or Singapore. The stores will help pan the company's focus from clothing to handmade products, home furnishings, organic food products, paper and candles. It is also due to launch a new stretch fabric `tencel khadi'. The company's khadi clothing is sold under the brand, `Khadder'. The company has five stores under this name with another two expected in Chennai and Hyderabad in 3-4 months. Part of the move to enter other product segments was to widen the clientele base and keep male customers engrossed. According to Mr Arup Datta, co-founder and CEO, Tropical Clothing, the majority of Khadder buyers were women, who shopped for themselves and for male family members, and 46 per cent of the total clientele were customers shopping for XL and XXL clothing. While the company has ventured into the North, South and East of India, it has stayed away from the Western region, mainly Mumbai. "Rentals in Mumbai are very high. We feel that rents should not exceed 12 per cent of our cost. We are waiting for the right time and we would rock as a brand here." The company is expected to end the current fiscal with a 150 per cent increase in turnover at Rs 2 crore (Rs 0.78 crore) and at Rs 5 crore during the next fiscal. Mr Datta said the company has no plan to dilute equity. At present, the company sources its products from 22 locations.
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|