Portico to double turnover

Premium home decor and furnishings brand Portico will double its turnover to Rs 40 crore in a year. One-fourth of its revenues will come from the bath solutions segment and the rest from the bed linen business.

"Within two months we will be launching new colour-coordinated and rearranged solutions for bath products," said CEO Rajiv Merchant. The American brand was launched in India in 2003, through its Indian licensee the Creative Group.

The new bath solutions, priced in the Rs 3,000-4,000 range, will include shower curtains, towels, mats and bath accessories. The company, which targets women aged between 20 years and 34 years as its core customers, is also embarking on a retail expansion.

"Till now we have a presence in 30 cities. By the end of the year, we want to increase this to 50 cities," Merchant said. The cities will include tier-II and tier-III cities such as Chandigarh, Nasik, Sholapur and Surat.