Koutons Retail will invest around Rs 300 crore for expanding its family stores and ‘Charlie Outlaw’ exclusive brand outlets.
Confirming this, DPS Kohli, chairman, Koutons Retail, said: “We have presently 60 Koutons Family Stores and 605 Charlie Outlaw outlets. By end of 2009-10 fiscal, we will be expanding in both the categories, and add 200 more Family Stores and 1,400 Charlie Outlaw stores.”
Speaking about funding the expansions, Kohli said, “We have sufficient funds left from the IPO we went for in late 2007, whereby we raised around Rs 140 crore. Besides, our debt equity ratio is also comfortable for securing funds from banks in case of need,” Kohli said.
The company is aiming to more than double its annual turnover to Rs 1,800 crore by 2009-10.