Hidesign eyes turnover of Rs 200 crore

Plans to launch exclusive stores in international marketsin 3-5 years time

Hidesign, one of the leading retailers in the leather accessories market, is targeting to more than treble its turnover to touch Rs 200 crore from the current Rs 60 crore, in the next three to five years.

The company is also trying to establish itself as an international brand from its present position of being an 'internationally-available' brand.

Speaking to Business Standard, Hidesign president Dilip Kapur said: "We have hired a UK-based consultant to establish our brand in countries across the globe and to position us as an exclusive and premium brand. The consultant will also identify players in each of countries to set up joint ventures there and take the brand forward."

He further added that he was not going after the mass market but was looking at each of his product being more and more exclusive.

"At present, on an average, 200 pieces of a design come out of our production base and we are tuning our production base to customise designs and productivise for individual customers," Kapur said, adding that he had to politely decline order from Wal-mart for mass production.

On the company's ramp-up plans, Kapur said that the brand is at present being perceived as an internationally-available brand and he wants this to be scaled up to be an international brand.

"A series of exclusive Hidesign stores will be launched in international markets. We are expanding in the Indian market as well. Nearly 75 per cent of our turnover is from overseas markets and we are expanding there in a big way," Kapur said.

At present, Hidesign is exploring the possibility of looking at a private equity partner who can bring in international marketing capability to the brand.

"We have had lots of proposals from financial investors to invest in our expansion plans. But we are not yet ready for this. We are looking at various options and we might go in for a strategic partner once we establish ourselves as an international brand," said Kapur.

"The company might look at diversifying at that stage into lifestyle accessories such as footwear and watches," he added.