Kidswear brand Catmoss has announced that it will invest around Rs 400 crore to expand the number of its outlets to 500 in India by 2010-11. The company is also planning to enter overseas markets, including Australia and the Middle East.
Confirming this, Ashwani Chawla, chairman, Catmoss Retail, said: “We have just crossed the 100 stores mark across the country, and are adding another 100 in tier II and III cities this year. We also plan to set up around 20-25 stores in Australia and the Middle East. We will follow our existing 70:30 ratio between company-owned and franchisee outlets.”
The company has also planned to hit the capital market in 2009. “The percentage of share offloading would depend on the company’s valuation,” Chawla informed.
Catmoss is also venturing beyond apparel segment and will soon be introducing accessories including shoes, belt, caps, sunglasses and bags for kids in the age group of two to 14 years.