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Mumbai, Aug 26 Cotton County, the retail arm of the integrated textile company Nahar Industrial Enterprises Ltd, has attracted Rs 120 crore equity investment from Sequoia Capital India.

Apart from introducing premium brands such as French Republic, denim garments and entering into ladies and kids segments, the company intends to utilise the fund for doubling its branded outlet capacity to 1,000 in two years.

Mr Sachin Sahni, Vice-President, Cotton County, said the company will authorise about 700 franchisees this fiscal year and the turnover is expected to touch Rs 300 crore from Rs 170 crore recorded last year. “We are in the final stage of authorising two outlets in Dubai to sell our brands,” he added.

The company will approve franchises for 50 showrooms in the festival season beginning October. By end of March 2009, it will take up the number of showrooms in south and west to 100 from 16 and 52 currently.

Of the 500 outlets, Cotton County owns just four shops after it recently shifted 12 to franchises. “Initially we started 16 of our own outlets to get the feel of retailing. After gaining the experience we understood that franchise is the best model and we are in the process of shifting the remaining four outlets to the franchise,” said Mr Sahni.

Positioned as a premium brand, French Republic costs 20-30 per cent more than other apparels under Cotton County. The company will ramp up marketing activities of French Republic, which till recently contributed about 15-20 per cent of the total sales, he said.

Cotton County shirts are priced Rs 299 onwards and full suits are available at Rs 2,200 upwards. “Being an integrated textile player, we manage to offer attractive discounts to our customers,” he said.

More Stories on : Retailing | Venture Capital | Readymade Garments

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