Indian Terrain Fashions Ltd. (ITFL), a leading player in branded, men’s casual wear, is toying with the idea of foraying overseas, according to a top official.
“Our first international foray will be in the heart of Europe,” said V. Rajgopal, founder-chairman, ITFL.
“To start with, we will seed one outlet in Denmark to see the results,” he said.
According to him, it would be a company-owned outlet and the investment cost would be met through internal accruals. “It will come up during FY21. It will sell both men’s and boy’s wear,” he said. On domestic front, the company intends to double the number of retail outlets to 300 over the next three years.
“We are taking the next big leap to increase our business volume from the present ₹425 crore to ₹650 crore in three years time.
“We have roped-in cricketer M.S. Dhoni as brand ambassador,” said Charath Narasimhan, MD.
Stating that it was too early for the company to launch women’s wear, Mr. Narasimhan said that boy’s wear was posting 25% growth year-on-year.
The company posted a flat growth in its standalone net profit for the year ended March 2019 at ₹25.71 crore on a revenue of ₹425.35 crore against ₹403.95 crore registered last year. Online sales accounted for 14% of total sales.