New Delhi: Premium men’s wear brand Indian Terrain on Friday said it will expand its range with plans to enter new categories like accessories this year, as part of plans to triple turnover to Rs 300 crore by 2015.
The company also said it will increase its retail operations by more than doubling the exclusive stores to 100 by end of next year and focus more on Tier II and III cities.
“We will be launching two new categories — dress pants for occasion wear and accessories — this year. This is intended to compliment our range which now consist of casual shirts and trousers, knits, jackets, sweaters and denims,” Indian Terrain chief executive officer Charath Narasimhan told reporters.
He said new items will also be launched in the premium segment but did not give specifics like price point.
“Dress pants will be for specialised and occasion based used and will be rolled out by autumn. Then we will come up with accessories like belts and bags,” Narasimhan said.
Indian Terrain, which is owned by Chennai-based apparel player Celebrity Fashions, is aiming to triple its turnover to Rs300 crore within five years.
“From Rs100 crore we want to grow three-fold and part of this will be with foray into new segments. Besides we will also scale up our retail chain,” he said.
The company plans to more than double the count of its exclusive stores to 100 by 2011, from 35 currently, Narasimhan said, adding that it will also ramp up presence in large format departmental outlets like Lifestyle and Shopper’s Stop.
Indian Terrain also announced the appointment of ace golfer Gaganjeet Singh Bhullar as its brand partner.
“The game of golf is one of our focus areas and we have already sponsored many national and international events. Tie-up with Bhullar will give us a perfect synergy as a premium brand,” Narasimhan said.