Home / Knowledge / News / Apparel/Garments / Apparel retailer 'The Loot' to raise Rs 1 bn via IPO
Apparel retailer 'The Loot' to raise Rs 1 bn via IPO
29
Oct '09
The leading apparel retailer' 'The Loot' is mulling raising fresh capital through an IPO, which is slated to open somewhere in 2010. The retailer plans to mop up Rs 1 billion, said the Managing Director, Mr Jay Gupta.

The company plans to employ the proceeds of the IPO in expansion of stores as well as setting up a training campus. It hopes to raise the store count to 200 from the current 120 which will be set up across 20 states in India.

"We will also invest Rs 100-crore more in the next 3-4-years for strengthening back-end operations, in-house training, warehouse upgrade and marketing," Mr Gupta said. The Loot had net sales of Rs 640 million in the previous fiscal.

Fibre2fashion News Desk - India

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