Killer Jeans maker pursues children’s clothing brand acquisition
today May 10, 2019
Denim brand Killer Jeans’ parent company Kewal Kiran Clothing Limited is looking to acquire a children’s wear brand to diversify its portfolio and tap into India’s booming children’s wear market.
Kewal Kiran Clothing Limited told ET Retail that it is searching for a children’s wear brand to acquire. The clothing manufacturer recently acquired the womenswear brand Desi Belle and, as it already runs the menswear denim brand Killer Jeans, hopes to add a children’s wear brand so it can cater to the whole family, CMD Kewalchand Jain told ET Retail.
Jain also reported that the business expects to reach between Rs 200 crore and Rs 250 crore in revenue from Desi Belle in the coming five years. The business’ compound annual growth rate has been at 14 percent over the past 10 years and aims for a CAGR of 20 percent year-on-year in the next five years.
The Indian children’s wear market is expected to grow as a whole at the CAGR of over 12 percent up to 2021, according to the TechSci Research report 'India Kids Apparel Market By Category, By Gender, By Season, By Point of Sale, By Organized Vs Unorganized, By Cloth Material, Competition Forecast and Opportunities, 2011 – 2021'.
The market represents a large growth opportunity for apparel brands as India’s middle class continues to grow and disposable income rises.
Kewal Kiran Clothing Limited was incorporated in 1989 and is headquartered in Mumbai. The business has a retail presence in India, the Middle East, and Central Asia and operates around 308 stores in 183 cities.
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