Indian menswear brand Indian Terrain Fashions Ltd plans to triple its revenue in four years. The company is eyeing a target of Rs 1,200 crore in revenue by 2022 from Rs 403 crore in the year ended March 31.
The Chennai-based company, which retails through 140 exclusive brand outlets, 500 multi-brand outlets and 320 large format stores, is planning to focus on southern and western markets in India for the next phase of expansion and will open around 25 stores every year.
Markets in Southern India and Western India will be the focus over the next 12 months. “Hyderabad is a huge market for us. We are expecting to close the year 2016-17 at Rs 700 crore in revenue,” Indian Terrain Director Venky Rajgopal said.
The company, which has been selling menswear since 2009, had launched a separate range for boys called ‘Indian Terrain Boy’ two years ago and is now planning to set up stand alone stores for children, starting with Hyderabad in a bid to test waters.
“Indian Terrain Boy is an adult product for boys. At present, it clocks a revenue of Rs50 crore and we had not really launched it across our distribution centres,” Rajgopal said. Earlier this year, Indian Terrain had also launched products in the active wear space to cash in on the US$ 3.5 billion yet-to-mature category.
Over the next four years, Rajgopal expects the boys’ range to become a sizeable chunk of the company’s business and record Rs 200 crore in revenue.
Incidentally, India Terrain also sells through online marketplaces like Myntra and Jabong.