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JDS Apparels to raise funds for second phase of expansion

26
Sep '08

JDS Apparels Pvt Ltd, a Noida-based fashion and lifestyle retailer, is planning to raise a capital of Rs400 million from private equity players to fund its second phase of retail expansion in the country.

Sources from the company informed Fibre2fashion that the company is still in the process of raising funds which will be required to set up and run new stores in 2009-10.

The company currently operates 6 stores under the Ritu Wear brand in north India and has plans of coming up with 10 additional stores by the second half of 2009. In fact, two new stores are almost ready to be launched in Faridabad and Indirapuram in a couple of month's time.

While the existing stores are located in Delhi and NCR (Lajpat Nagar, Rohini, Noida and Kaushambi), and Punjab (Amritsar), the new stores are expected to be launched in Panipat, Meerut, Moradabad, Bareilly, Jaipur and Jalandhar.

The current expansion plans for 2008-09 will be funded from internal accurals and it is for the expansion plans of 2009-10 in the second phase for which it will need a minimum sum of Rs400 million. Already talks have been initiated with private equity firms and the deal is likely to get concluded soon.

Plans are also underway to target cities in central India followed by those in eastern and western parts of the country. The company is hopeful that after establishing its presence across the country, a revenues amounting to Rs10,000 million can be expected by 2011-12.

Fibre2fashion News Desk - India

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