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Gini & Jony on expansion spree
Feb '10
Mr. Vikash Sharma, Vice-President (Sales), Gini & Jony, a kid's wear brand informed that the company by means of an Initial Public Offer (IPO) expects to raise almost Rs. 1-1.25 billion by September-October this year. For the purpose they have already submitted their draft red herring prospects to Securities and Exchange Board of India (SEBI).

The earnings accruing out of the IPO would be used to amplify the company's development, along with its domestic and overseas retail network, and also for establishing a third manufacturing unit in the country, Mr. Sharma informed.

In India, the market for kid's apparel is developing at an annual rate of 40 percent and the company anticipates splendid growth this year as it hopes to achieve revenue worth Rs. 3 billion in this financial year as compared to Rs. 2.25 billion in last year.

Mr. Sharma informed that, the company with 12 flagship stores and 250 EBOs at present, intends to launch 110 more Exclusive Brand Outlets (EBOs) and 32 more flagship stores by end of fiscal 2011. The Investment in each flagship store will be around Rs. 4.2 million.

Fibre2fashion News Desk - India

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