Crocodile plans 15 new stores,Rs 300-cr business by March '08

Hyderabad, Sep 17 (UNI) The Coimbatore-based SP Appparels, a fully integrated Fibre to Fashion Verticals, plans to open 15 exclusive 'Crocodile' stores in the country and target Rs 300-crore export by March 2008.

The Company, which exported Rs 260 crore worth apparels in year ended March 2007, plans to invest Rs 13 crores for business promotion in the domestic sector, targetting Rs 25 crores revenue in the current year. It has acquired Chennai-based garment exporters to leverage 'Natalia', the women's brand for expansion in domestic sector.

With ten stores, the company plans to roll out 15 more 'Crocodile' stores across India. Before the end of the fiscal 2007-2008, it plans to open stores in New Delhi, Noida, Jaipur, Mumbai, Chennai, Ernakulam, Calicut, Nagpur, Ahmedabad, Indore, Baroda and Mysore, according to company Managing Director Sundarajan.

The company has already spent Rs five crore to expands domestic business.

UNI