Home / Knowledge / News / Apparel/Garments / Indian ethnic wear brand eyes Rs 1bn turnover by 2015
Indian ethnic wear brand eyes Rs 1bn turnover by 2015
26
Feb '13
Seven East, the Indian ethnic wear brand having a turnover of over Rs. 400 million, intends to become a Rs. 1 billion company by March 2015, promoter of the firm, Mr. Sanjay Bindra has said.
 
Targeting high-end customers, the brand presently features across 22 Planet Fashions, 48 Shoppers Stops, 17 self-owned outlets and 15 other multi-brand outlets (MBOs), and intends to grow its store count by 20 percent each year, as a part of its ongoing expansion drive, Mr. Bindra said in a statement.
 
Seven East was launched in May 2011 by Mr. Bindra after selling off his total stake in women’s ethnic-wear brand ‘Biba’ during the same year.
 
Mr. Bindra said their talks for raising capital from ICICI Ventures and Everstone Capital were underway, but realizing that they are not in need of any additional capital at present, the talks were suspended. However, in future if they look at raising money, they would not be considering a deal size below Rs. 300 million, he added.
 
He said it is the right time for them to firm up their product offering and for launching more outlets at preferable locations. 
 
Of late the company has also inked a deal with International Indian Film Academy (IIFA) to launch a designer-led collection of Bollywood-inspired clothing.
 

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 22nd Jun 2021

Investment flows to developing Asia defy COVID-19, grow by 4%: UNCTAD

Foreign direct investment (FDI) flows to developing countries in Asia ...

Pic: Shutterstock

Apparel/Garments | On 22nd Jun 2021

UN prioritising protection of Cambodian garment workers

The United Nations system in Cambodia is working together with...

Pic: JHVEPhoto / Shutterstock.com

Fashion | On 22nd Jun 2021

L Brands announces name of separate company - Victoria's Secret & Co

US-based L Brands has set the ball rolling to create two entities...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Fabric selection & recommendation based on client's brief

Textile Industry, Head honchos

Textile Industry
Head honchos

Always best to produce under our own supervision

Textile Industry, Head honchos

Textile Industry
Head honchos

Main challenges are breakdown of supply chain and shrinkage of manpower

Chendhuran Sundar,

Chendhuran Sundar

It manufactures and retails menswear garments in India under the brand...

C Maennich,

C Maennich

Trützschler, one of the world's leading textile machinery manufacturers,...

Gus Bartholomew,

Gus Bartholomew

<b>Gus Bartholomew</b>, co-founder of SupplyCompass, explains to <b>Subir...

Shlomzion Chen, Seevix

Shlomzion Chen
Seevix

Seevix Material Sciences Ltd, which develops and manufactures synthetic...

Kevin Young & Tom Lucas, Web Industries

Kevin Young & Tom Lucas
Web Industries

Web Industries is a precision formatter of nonwoven materials used in baby ...

Daniel Odermatt, Ventile

Daniel Odermatt
Ventile

Ventile is a registered trademark used to brand a special high-quality...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search