Koutons raises Rs 112.60 cr as pvt equity

Mumbai, Nov 29 (UNI) To fund its aggressive growth plans, Koutons Retail India has raised Rs 112.60 crore this year as Private Equity with UTI Ventures and Argonaut being the main contributors.

While UTI Ventures contributed 54.6 crores, Argonanut private Equity made an investment of Rs 46 crore and Rs 12 crore were generated from other investors, the total dilution being 17.86 per cent. Koutons has been on an aggressive growth path for the last three years and is currently not only consolidating its position in North India but also spreading throughout India. To fund this growth, the Company intends to go in for an Initial Public Offer (IPO)in the next year for raising a further sum of Rs 140 crore.

Company Chairman D P S Kohli told reporters here today the aim is to carry the brands and products to international market after consolidating in India. The primary focus for expansion outside India would be SAARC and Middle East in the first phase followed by the rest of the world.

For Koutons, so far it has been a quantum leap and the expansion rate that was 0.84 stores per week in FY 04-05, touched 2.50 stores per week in 05-06 and has now reached 8.75 stores per week(1.25 stores per day). That way, the growth has been ten fold from FY 04-05 to 06-07. The company will cross the 1000 stores mark within the coming financial year.

''Currently, the company is operating more than 400 franchisee stores under the brand name Koutons and more than 100 under the brand name Charlie Outlaw (launched in a single day on October 5 2006) this feat has been submitted to the Limca Book of Records.''he added.

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