Turtle eyes 20 per cent growth, to open two stores every month

Friday, 22 January 2010

Turtle eyes 20 per cent growth, to open two stores every monthTurtle, the Kolkata-based menswear brand is looking to close this fiscal with a 15 to 20 per cent growth over last year. ?By March 2010 we expect to touch Rs 65 crores,? says Amit Ladsaria, Director, Turtle. Started in 1995, the company has grown even through the recent economic slowdown, ?We started with 20 shirts. Now we make 5,000 a day? says Ladsaria. The brand that saw almost 33 per cent growth during the economic slowdown, is now working on plans to expand its business. ?We are looking at opening two stores every month and by March 2011 we plan to add 24 exclusive brand outlets (EBOs),? Ladsaria says.Turtle eyes 20 per cent growth, to open two stores every month
Turtle already has 38 EBO?s spread all over the country. Being a Kolkata-based brand 18 of these EBOs are located in east India. Other than EBOs, Turtle is also available through 80 large formats stores like Central, Globus, Pantaloons, India Bulls, Shoppers Stop, Brand Factory. It?s also present in
573 multi brand outlets; 55 shop-in-shops. Recently, Turtle launched a mass market brand called ?London Bridge?. At the moment the brand is being tested through two EBOs.
Turtle has three production units, two in Kolkata and one in Bangalore. Nearly 70 per cent of the production is being done in Kolkata, Ladsaria explains. ?Nearly 70 per cent of our business is in shirts. Trousers contribute another 20 per cent. The rest constitutes T-shirts, jeans, suits and accessories like belts.? It may be noted that in May 2009 Future Group took a minority stake in the company.
Meanwhile, the brand has signed up with WWF and World Wildlife Society of Orissa for conserving turtles. ?As a part of this exercise we help educating fishermen about the need for conservation of turtle,? Ladsaria explains. Turtle has also launched a loyalty program called Turtle Shell Club. Through this customers can redeem points for turtle conservation in Orissa.

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