Kolkata-based menswear brand Turtle is planning to expand in southern India by opening Turtle World, the brand’s exclusive outlets, in the four southern state capitals, as well as Coimbatore, Hubli, Visakhapatnam, Vijayawada, Kochi and other tier I and II cities.
The company has chalked out over Rs 1.7 crore investments for the purpose.
At present, the company sells its brands, Turtle and London Bridge, in the South through seven exclusive outlets and multibrand outlets including Shoppers’ Stop, Globus and Brand Factory, in Bengaluru, Hyderabad and Chennai.
“South India is our second biggest market after the east. We have 31 exclusive outlets across the country at present. We intend to increase the number of exclusive outlets to 100 by 2008-09, including 25 in South India,” L Sridhar, marketing head at Turtle, said.
“We are seeing significant sales in South India. Besides, the availability of real estate is better in South when compared to the other regions,” Sridhar added.
Turtle recently forayed into West Asia, where it has set up an exclusive outlet in Dubai.
Last year, the company’s turnover from retail operations was Rs 45 crore. This year, it is expected to touch the Rs 60 crore mark.