612 League eyes Rs 400 cr revenue by 2021

Kidswear brand 612 League is aiming to clock a revenue of Rs 400 crore and take the leadership position in the market by 2021.
The company reported a turnover of Rs 100 crore in the previous fiscal.
"We are looking at a revenue of Rs 400 crore by 2021. We are the number three brand in the Indian market and we are targeting to achieve a market leadership position (by 2021)," 612 League Founder and CEO Manu Indrayan told PTI.
The kids apparel industry in India is estimated to be worth Rs 28,000 crore, of which the branded segment accounts for only 15 per cent, dominated by players like United Colors Of Benetton and Gini & Jony.

612 League is in the process of raising funds in the next four to six months to fuel its expansion.
"Till date we have invested Rs 65 crorein the venture. To reach the target of Rs 400 crore (revenue), we have initiated the process of another fund raise of Rs 60-65 crore and are in the process of appointing investment bankers.

"The whole process should take four to six months but the quantum for fund raising would depend if we go for some debt. Overall, we are planning to invest additional Rs 60-65 crore now," he said.
In 2014, it had raised Rs 50 crore from private equity firm Ask Pravi.

The company, which started five years back, is expanding its product portfolio by adding categories such as accessories and shoes and plans to scale its exclusive outlets from 50 at present to 200 by 2021.
"As we ramp up our exclusive brand outlets, we would be looking at extending our product line to nightwear, accessories and shoes, but shoes would be last on our list of priorities," he said.
At present, 612 League sells its products through 460 points of sale across the country, which it plans to increase to 800 by 2021.
The company, which gets 62 per cent of its revenues from non-metros, is also looking to increase the contribution of online sales to 14 per cent in the next one to two years from 8-9 per cent now.

It is also planning to export its products once it has fully penetrated the domestic market.
"We are not actively pursuing export opportunities at present because we are India focused so far and we see there is a huge opportunity in Indian market and there is a lot of space which we need to get into in the domestic market.
"Once we are spread across and have fully penetrated the Indian market, then we would be open to creating a footprint internationally as well," he said.