Will open 30 more stores in the coming year
Indian Terrain Fashions has gained recognition in men's apparel and is set for a stock market listing.
Come Friday, the stock of Indian Terrain Fashions will be listed on the Bombay Stock Exchange and the National Stock Exchange.
Indian Terrain Fashions came into being when Celebrity Fashions hived off its men's apparel brand Indian Terrain into a separate entity. The de-merger took retrospective effect from April 2010 after completion of all legal formalities and Indian Terrain Fashions Ltd came into being. “The last four quarters have seen significant growth in sales,” said V. Rajgopal, founder and Chairman of the company.
The current year would witness a growth of a little over 50 per cent, he added.
“We are well on track to achieve a total sales turnover of Rs.120 crore for this financial year,” he added. For 2009-10, Indian Terrain reported sales of Rs. 80 crore in terms of realised retail price and Rs. 120 crore in terms of maximum retail price.
The performance of the knitwear rage was primarily responsible for this strong revenue growth, Mr. Rajgopal said.
With the imminent entry into the premium denim segment, he was confident that the company would be able to sustain the growth momentum.
Mr. Rajgopal said Indian Terrain had posted a CAGR (compounded annual growth rate) of 61 per cent since 2001.
Mr. Rajgopal said Indian Terrain would open 30 more stores in the coming year. Currently, it has 71 exclusive brand outlets. Out of these, 21 are own outlets.
To a question, he said the company would manage with bank debt for its fund needs for the next one year. The company has ongoing partnerships with Lifestyle, Shoppers Stop, Central and Westside.
He said Celebrity Fashions supported close to 35 per cent of the supply requirements of its domestic brand Indian Terrain now. A few years hence, it would support 75 per cent of the supply needs of Indian Terrain.
Mr. Rajgopal said he would play a `strong supervisory role' in Celebrity Fashions and Indian Terrain, which would be run by independent chief operating officers (COOs). These two COOs would come under a single CEO (chief executive officer), he added.