Argonaut plans Rs50cr investment in Koutons Retail
04 Dec '06
1 min read
Private equity firm Argonaut, based in US, has planned investment of Rs50 crores in gents apparel brand Koutons Retail India for expansion. Argonaut promises to extend funds to the company when needed.
Currently the equity firm has net investment of $75 million in the country. It has funds worth $2 billion under management in America.
Anil Khatod, MD, Argonaut, informed that company has steadily increased investment in India and it wants to reach $500 million within three years. It has also put in $20 million for a textile venture in Coimbatore.
Koutons is a Rs4.5 billion company retailing its menswear under Koutons and Charlie Outlaw brands and it functions via 20 production and warehousing sites in Gurgaon.
Company plans to upturn the number of outlets of Koutons brand to 500 and of Charlie Outlaw to 200 in financial year 2006-07. It will be introducing a range of western formal clothing for ladies in coming season.
Retailer is fortifying its presence in west and east India and it aims to foray into south next year. By establishing new units, it will upswing its production capabilities to achieve growth.