ICRVL eyes Rs 500 crore biz from Boutique Living in 5 years

Textile firm Indo Count Retail Ventures Ltd (ICRVL), which recently entered the domestic market with the brand Boutique Living, is eyeing Rs 500 crore turnover from the business in the next five years.

"We are looking at Rs 500 crore turnover from the domestic market in five years time after we have established our brand. At present, our entire turnover comes from exports," ICRVL Managing Director Asim Dalal told PTI.

ICRVL is a subsidiary of Mumbai-based textile manufacturer and exporter Indo Count Industries (ICIL). ICIL reported turnover of Rs 2,213 crore in the fiscal year 2015-16.

The company exports bedsheets, bed linen and quilts to 54 countries and has a production capacity of 90 million meters.

Boutique Living products are expected to be in market by the first week of September.

The company plans to place its Boutique Living products in over 200 outlets in the first year.

"After completing first year of operations here in India, we may also look at opening exclusive brand stores," Dalal added.

Boutique Living product range starts from Rs 2,000 per bedsheet set and goes up to Rs 8,000 for a premium category.