Apparel and fashion-wear major Koutons Retail will invest Rs 300 crore for expanding its new family stores along with outlets for its casual-wear brand 'Charlie Outlaw'.
The company will open 200 new large format Koutons Family stores apart from adding another 1,400 stores of Charlie Outlaw, over the existing 605 stores of the brand in the next 18 months.
On the back of these expansions, the firm is aiming to more than double its annual turnover by end of 2009-10 fiscal to Rs 1,800 crore by 2009-10.
"We have presently 60 Koutons Family Stores and 605 Charlie Outlaw outlets. By end of 2009-10 fiscal, we would be expanding in both the categories and add 200 more Family Stores and 1,400 Charlie Outlaw stores," Koutons Retail Chairman D P S Kohli told PTI.
The expansion would entail an investment of close to Rs 300 crore on the part of the company, he added.
"We have sufficient funds left from the IPO we went for in late 2007 where we raised Rs 140 crore. Besides, our debt equity ratio is also comfortable for securing funds from banks in case of need," Kohli said.
