Chennai: Leading apparel manufacturing company Koutons Retail India on Friday announced that it would set up an integrated manufacturing facility at Gurgaon in Haryana to augment its production capacity.
It would also set up a chain of 999 outlets across the country, Koutons Retail India Chairman D P S Kohli told reporters here today.
There are 23 major players in the branded apparel segment and Koutons, by far, has the largest chain with 999 outlets. It designs, manufactures and retails apparel under Koutons and Charlie Outlaw brands. Koutons plans to open 140 more outlets over the next couple of years which will take it way ahead in the competition.
Mr. D P S Kohli, Chairman of Koutons said: "We believe that we are well positioned to capture considerable growth opportunities in Indian apparel manufacturing and retail sector."
"The key strength of our company lies in wide network of exclusive brand outlets, with low-cost sourcing capabilities, unique brand positioning, design and merchandising expertise, with a pulse on fashion, experienced and efficient management, wide apparel range and IT Infrastructure."
He said to fund these projects the company would be coming out with an IPO, which opens on September 18 and closes on September 21.
The company proposes to raise up to Rs 146 crore through the issue, he said.
"We are expecting to raise about Rs 140 crore through this 100 per cent book-building process by issuing 35.24 lakh equity shares of face value of Rs 10," he said.
The price has been fixed at Rs 370 to Rs 415 a share.