Koutons to raise Rs 140 cr, plans to double outlets by mid-07

New Delhi, Dec 24 (UNI) Apparel maker Koutons Retail India Ltd will raise Rs 140 crore through initial public offering (IPO) in the next year, as it plans to double its presence in year's time.

''We will ramp up to 500 Koutons stores and 500 Outlaw's store by mid-2007,'' Koutons Chairman D P S Kohli said.

Currently, the company is operating more than 400 franchisee stores under the brand name Koutons and more than 150 under the brand name Charlie Outlaw, company sources said.

Within the next three years the brand aims to realise full market potential that is 1,000 Koutons stores and 2,000 Charlie Outlaw stores, Mr Kohli said.

During 2006-07, the company expects to produce and sell garments to the tune of one crore garments worth Rs 425 crore, Mr Kohli said.

To fund its aggressive growth plans, Koutons Retail India had earlier raised Rs 112.60 crore this year as Private Equity with UTI Ventures and Argonaut being the main contributors.

UNI SBA DKS HT1335