Indian Terrain to foray into womenswear market, expects 20% growth in current fiscal
Indian Terrain Fashions Ltd, a leading men’s apparel brand in India is looking to foray into womenswear market in India next year to tap the potential in this segment, said a top company official.
The company will soon be launching western wear for women and currently working on a retail strategy for the same which is expected to be finalized by year end.
Indian Terrain will get into women’s comfort wear segment in the next 12 months, Venky Rajgopal, managing director, Indian Terrain Fashions Ltd was quoted as saying by the Mint.
“We are working on that. Finalising the retail strategy and the styling will take us a few months. We have been growing at 20-25% every year which we hope to sustain,” added Rajgopal.
The company is also planning to add 85 new retail counters in FY 2018 across exclusive outlets and departmental stores, it said in its recent investor presentation. It said that it will focus on penetrating deeper into tier-I, II and III cities of India as they have been instrumental in boosting sales of the brand.
Indian Terrain reported revenue of Rs 400 crore (approx $62.6 million) in the previous fiscal and is eyeing over 20 per cent growth in the current fiscal. The company reported Rs 84.48 crore (approx $13.3 million) in revenue in the first quarter of the current fiscal with a profit of Rs 4 crore.
The company has signed Bollywood actor Kunal Kapoor as its brand ambassador for a period of two years which is expected to further push to sales of the company and take the brand to the next level.
Indian Terrain currently has 250 large format stores, 142 exclusive brand outlets and about 1200 other multi-brand outlets across the country and also available of 7 leading e-commerce sites in India.
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