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Jan, 01 2007

Koutons raises private equity to fund aggressive growth

To fund its aggressive growth plans, Koutons Retail India has raised Rs.112.60 crore this year as Private Equity with UTI Ventures and Argonaut being the main contributors.

To fund this growth, the company intends to go in for an IPO in next year for raising a further sum of Rs. 140 crore. They aim to carry the brands and products to international markets after consolidating in India. The primary focus for expansion outside India would be SAARC and Middle East in the first phase followed by rest of the world. Koutons has a complete range of menswear and focuses on the best international fabrics made as per Indian fashion demands. Currently, the company is operating more than 400 franchisee stores under the brand name Koutons and more than 100 under the brand name Charlie Outlaw.

Within three years the brand aims to realise full market potential i.e. 1,000 Koutons stores and 2,000 Charlie Outlaw stores (the Charlie Outlaw stores are focused as an economy brand and hence the market demand of the same is higher). Gradually emerging as the largest menswear brand in India the company has set a target of selling one crore garments to generate a revenue of Rs 425 crore in the current fiscal. With Mumbai being the fashion capital of the country, Koutons is all set to take western India by storm. With brand Koutons becoming a giant in the north, the focus is now shifting to the West and the East Indian states. From a single store in Maharashtra and Gujarat in July 2006, there are about 53 stores with another 12 stores slated for opening very soon.

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