With a vision of graduating from being a men’s lifestyle brand into a leading fashion wear brand, Turtle is now focusing on running operations in retail and distribution across the country. Simultaneously, it is also concentrating on the markets in the west in cities such as Pune, Mumbai, Aurangabad and Nasik.
Shitanshu Jhunjhunwalla, director, Turtle, said, “The casual wear market is showing resurgence. If casual wear was contributing to 15 per cent of our overall sales, this season it has gone up to nearly 30 per cent. We are predicting 50 per cent in the ensuing Spring Summer since this season is anyways more casual.”
“We have 45 exclusive brand outlets (EBOs) across the country and are present in 100 shop-in-shops at Central, Pantaloons, Shoppers Stop, Globus and some discount formats such as Brand Factory, MegaMart, among others. Seven of our EBOs are company-operated and run. The rest are franchised. We also have over 1,200 multi-brand outlets (MBOs). EBOs give 25 per cent of our business, MBOs 55 per cent the rest is large formats,” he adds.
Turtle plans to achieve 45 per cent growth in sales in the current year in view of its expanding customer base. The company plans to invest Rs.15 crore and increase the number of its retail outlets to 100 over next fiscal.
– IndiaRetailing Bureau