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Teesort plans overseas foray
04
Jan '16
New Delhi-based online-only menswear fashion brand Teesort.com is firming up plans for an overseas foray through multiple channels. The company is in talks with e-commerce major Amazon for launch in the US and the UK markets. Teesort also wants to tap the West Asia market and is in talkswith potential local partners for launching their products in the region.

Alok Agarwal, co-founder of Teesort.com said currently, overseas sales happen through the company's Indian portal, which is less than one per cent. “However, we are in the process of finalising a deal with Amazon for an overseas launch in the US and the UK. We are also talking to local partners in the Middle East for a launch there. This should help us achieve the 200 per cent growth that we are anticipating for the fiscal 2015-16," he told Business Standard.

Teesort, which posted net sales of Rs 30 crore in 2014-15, claims to be the only profitable online-only fashion brand at 40 per cent gross margins. It is aiming at net sales of Rs 100 crore for the fiscal 2015-16. According to Agarwal, who co-founded the company in 2010 with his brother Atul Agarwal, Teesort has been growing at around 300 per cent year-on-year. "We are targeting to touch Rs 500 crore in three years," Agarwal said while adding that the company is also looking for strategic investors.

Teesort has over 8,000 different products, and it is in the process of adding more categories. While t-shirts make up for 50 per cent of its sales, Teesort is looking to offer shirts, track pants, sweat shirts, jackets, and bottom wear such as jeans and trousers.

Agarwal said that the company's rate of repeat customers has been almost double than that of the online apparel retail industry. While repeat rates of Teesort hover at around 32 per cent, the industry average is about 18-19 per cent. (SH)

Fibre2Fashion News Desk - India

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