The Rs 225-crore Royal Classic Group (RCG) is planning to take its brands abroad. The Chennai-based company, which has its own apparel stores, is planning to foray into Singapore and Dubai.
In both countries, the company will sell its menswear brand Classic Polo and premium shirts brand Swiss Club.
“We want to expand to these countries to protect our business as the Indian retail market may be saturated in the coming years,” company’s executive director R Sivaram said.
RCG will operate in Singapore through its local subsidiary – Win Win Enterprises – in which it has a 51 per cent stake. It plans to set up four exclusive stores in Singapore by the end of this year and a tie up with some departmental stores. In Dubai, the company is already retailing through a departmental store and plans to open exclusive stores next fiscal. “In the Singapore stores, we will be investing around Rs 2 crore,” Sivaram said.
Meanwhile, RCG is also planning to expand aggressively in India. It has 44 stores at present and the company is planning to take this number to 100 stores this fiscal. Of these, 80 per cent of the stores will be in the south while 20 per cent will be in the north and east.
“We are planning to invest Rs 10 crore for expanding our retail operations this year, which will be raised through a mix of debt, borrowings and internal accruals,” Sivaram said.
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