UTI Ventures Invests Rs 27 Crore in KOUTONS

New Delhi, July 17 (UNI) Koutons Retail India, a leading menswear brand in the country today announced investment of Rs 27 crore in it's equity by UTI Ventures' and plans to increase it's production to one crore garments this year.

''With a reputed firm like UTI Ventures picking up a stake, it is a re-affirmation of a bright future for our company. The company intends to ramp up its production to one crore garments this year,'' said Koutons Chairman DPS Kohli.

The policy of the company is to achieve balanced growth by increasing its outlets at the same speed as the ramped up production, Mr Kohli said.

''We look forward to achieve a Rs 1,000 crore turnover in the next two years,'' said Mr Kohli.

The company has expanded its stores to 284 from 74 in March 2005. It has presence in 21 states with total retail space of around 2,50,000 square feet. It plans to be in all the states by 2008 with around 600 stores when its total retail space will be around 6,00,000 square feet.

UTI Venture Funds is one of the leading private equity firms with funds over 200 million dollars under management.

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