Business Daily from THE HINDU group of publications
Tuesday, Jul 18, 2006
Business Daily from THE HINDU group of publications Tuesday, Jul 18, 2006 |
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Markets
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Venture Capital Marketing - Retailing Our Bureau
Mumbai , July 17 UTI Ventures, a leading private equity firm, has invested Rs 27 crore in Koutons Retail India Ltd, a menswear brand in India. This investment was announced by Mr D.P.S. Kohli, Chairman, Koutons. In an official statement, Mr Kohli said, "our relentless efforts to provide high quality contemporary fashion wear at an affordable price has paid off and we are growing rapidly. Koutons is an established brand in the north and east and will shortly have a pan Indian presence. With a reputed firm like UTI Ventures picking up a stake, it is a re-affirmation of a bright future for our company." The UTI Ventures Chief Executive Officer and Managing Director, Mr Raja Kumar, said in a press release, "organised retailing is set to grow significantly in India. Koutons is a unique Indian brand and will emerge as one of the largest players in this segment," Koutons is fast emerging as a major player in the men's wear market in India and has grown from 74 stores in March 2005 to 206 stores in March 2006 and is currently 284 stores strong. The company has had tremendous growth in the last three years with a CAGR of 130 per cent during this period.
More Stories on : Venture Capital | Retailing | Readymade Garments
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