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Tuesday, 25 January 2011 |
 Menswear brand Turtle is on a high after a very successful last year. The brand which opened 15 new EBOs across the country and introduced a winter wear range which went off the shelves faster than it arrived, is now chalking out plans to open
another 20 EBOs this year, mainly in Tier I and II cities. It also wants to strengthen its presence further and introduce a new range of products for the spring/summer. And their plans are not restricted only to the domestic menswear market, which is worth around $12billion. “We are looking at opportunistic growth overseas. Currently, we are looking forward to export to South Africa and certain European countries. We are testing waters there and will draw a complete plan once we get the desired results,” says Shitanshu Jhunjhunwalla, Director, Turtle.
As a brand, Turtle strives to offer complete fashion-wear wardrobe solutions for its consumers. “We would also look at consolidating our recent product launches and see a lot of potential in the outer-wear segment,” he says. The brand which recently launched a range of winter wear with suits, jackets and pullovers is now waiting to hit the shelves with its new range of spring/summer collections. As Jhunjhunwalla avers, “We have great surprises for our customers next season. We would want them to experience it when they visit Turtle stores.”
The Kolkata-based brand has production units in Kolkata, Howrah and Bangalore where they produce over 150,000 units every month. And in the next two years, they have plans to set-up at least five more units. The raw materials are sourced from countries like China, Hong Kong, Thailand and Germany.
The brand which is retailed through a mix of EBOs, MBOs, LFS has 46 EBOs, over 1,500 MBOs and another 100 LFS at the moment. The EBOs and LFS contribute around 50 per cent to their turnover. “We have plans to increase our store count to 100 over the next fiscal. We are exploring the Tier I, II and III cities across the country for this. Retail in India is outperforming everyone’s expectations. We feel there is a great potential in every part of the country. We need to strategically explore them,” he opines. With their focus on expansion in place the brand is targeting Rs one billion this year and intends to double turnover in the next 2-3years. |
