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Indian apparel brand Crusoe eyes Rs 2bn revenue by FY'16
31
Jul '12
Indian men’s innerwear brand Crusoe is planning to grow its revenue to two billion rupees by FY’16.
 
The brand owned by Coimbatore-based Jagannath Textile Co. Ltd. proposes to launch 100 exclusive outlets, including company-owned and through franchise route, by end of the current fiscal.
 
The company already marks its presence in men’s casual wear segment, with offerings like men’s inner wear and casual wear, including sportswear. It is now planning to penetrate in the lingerie segment and women’s and casual wear segment by FY 14 as well as kidswear segment by FY 15.
 
The brand has been witnessing vigorous growth since its inception about three years ago. Last fiscal, the brand grossed a revenue of Rs. 150 million and it intends to increase its earnings to Rs. 300 million this fiscal, and aims to touch Rs. 2 billion mark by FY’16.
 
The brand, which already operates three exclusive Crusoe outlets, plans to add seven more company-owned outlets, thus taking the total number to 10. Each of the new outlets would necessitate an investment of Rs. 2.5-3.5 million, which would flow from the holding company Jagannath Textile.
 
Subsequently, the brand would also set up 100 more outlets through franchise route. It also has plans to start exporting its products, beginning with the Middle East market.
 
The company estimates the overall size of organized inner wear market in India to be about Rs. 16 billion.
 

Fibre2fashion News Desk - India

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