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Sequoia Capital furnishes Rs1200 mn to Cotton County Retail

28
Aug '08
Cotton County Retail, a Ludhiana-based textile firm has been reinforced with Rs1200 million from private equity firm Sequoia Capital India.

While talking to the media Mr Sachin Sahni, Vice President of Cotton County Retail stated, “We have received Rs1200 million from Sequoia Capital India which we will use to fuel our expansion”.

This investment will be used to strengthen market leadership of its Cotton County brand and its foray into newer segments. Accessories in the men segment has already been launched while another plan to launch a premium offering and plus size clothing in men's wear is underway. The women's wear and kids segment would also be explored in the future.

Like any other enterprise in the business, Cotton Country aims at expanding its retail presence in the domestic as well as international market. Mr Sahni informed that, “Presently, we have more than 500 exclusive brand outlets in over 350 cities and have decided to foray into overseas market through franchisee in the UAE. Besides, we also plan to increase our network to over 1,000 stores and anticipate a Rs5000 million turnover by FY'10”.

The company's unique selling proposition is its ability to offer the largest range of 100 percent cotton garments at affordable prices and sell cotton suits at price competitive rates.


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