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Indian menswear retailer Turtle to double EBOs in FY13
19 Apr '12
1 min read
Turtle Limited, one of India's fastest growing menswear companies, plans to double its number of existing exclusive brand outlets (EBOs) from 55 to more than 100 in the next 12 months.
In addition, the Kolkata-based company is also planning to launch its own denim wear brand in the next 12-18 months.
The new EBOs will be mainly set up in Tier II locations as the already existing Turtle EBOs in such locations are performing well, said Mr. Shitanshu Jhunjhunwala, Director of Turtle. He informed that nearly 60 percent of Turtle stores are currently located in Tier II cities.
Inaugurating Turtle's second EBO in Hyderabad, Mr. Jhunjhunwala said the company plans to open six to seven stores during the next one year in Andhra Pradesh. He added that the firm is currently opening three new EBOs a month across the country.
Besides EBOs, Turtle apparel and accessories are sold at 1,600 multi-brand outlets (MBOs) across India. The firm will be soon unveiling a website for online sale of apparel and accessories.
In 2011-12, Turtle's sales rose by 50 percent year-on-year to Rs. 1.22 billion and the company has set a target of Rs. 1.75 billion for the current fiscal.
In addition, the Kolkata-based company is also planning to launch its own denim wear brand in the next 12-18 months.
The new EBOs will be mainly set up in Tier II locations as the already existing Turtle EBOs in such locations are performing well, said Mr. Shitanshu Jhunjhunwala, Director of Turtle. He informed that nearly 60 percent of Turtle stores are currently located in Tier II cities.
Inaugurating Turtle's second EBO in Hyderabad, Mr. Jhunjhunwala said the company plans to open six to seven stores during the next one year in Andhra Pradesh. He added that the firm is currently opening three new EBOs a month across the country.
Besides EBOs, Turtle apparel and accessories are sold at 1,600 multi-brand outlets (MBOs) across India. The firm will be soon unveiling a website for online sale of apparel and accessories.
In 2011-12, Turtle's sales rose by 50 percent year-on-year to Rs. 1.22 billion and the company has set a target of Rs. 1.75 billion for the current fiscal.
Fibre2fashion News Desk - India
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