Chandigarh: Apparel company United Colors of Benetton today said it aims to double its revenue earning from India to $55 million during this year and open 30 new outlets in the country.
The Benetton Group is present in 120 countries around the world. Its core business is clothing. An Italian group whose style, quality and passion are seen in its brands, the casual United Colors of Benetton, fashion oriented Sisley, Playlife leisurewear and Killer Loop streetwear.
"We are expecting a turnover of $55 million from our garment business in India against $30 million achieved last year as India is one of the fastest growing markets for apparel in terms of size and quality of customers," Benetton Group Executive Deputy Chairman Alessandro Benetton told reporters here.
"We will increase the strength of our outlets to 170 from 140 in 53 cities at present whereby new outlets would be opened in metros and tier II cities," he said, adding that 30 per cent of these outlets would be company owned.
The company will open its largest outlet of 1,100 sq meters in Chandigarh to cater to the growing market of apparel in north.
"We chose Chandigarh for opening our largest outlet because it will allow us to capture Punjab and other neighbouring markets," he added.
The Benetton group was established in 1965. Today Benetton sells 130 million garments annually in 5,000 contemporary stores around the world and a total turnover of over 1.9 billion euro.