TCNS Clothing, contemporary ethnic wear firm that owns the W and Aurelia brands, are looking at 50 percent increase in their top line growth and scale up its sales in the current fiscal. They have set a target of achieving Rs 1,000 crore turnover by 2017 fiscal for which they will be offering new innovative product, add new stores and increase online sales.
The company is looking at 125 new outlets of its brands 'W' and 'Aurelia' this year. It will be a mix of company-owned and franchise outlets. They will open 60 'W' stores and 65 'Aurelia' outlets. At present, there are 200 'W' and 90 'Aurelia' outlets.
The company is also looking at opening three stores in Mauritius, Nepal and Sri Lanka by end of this month to tap Indian diaspora. They are also in advance stages of talks to open their outlets in the Middle East.
The company will first doing pilot project to see how these stores perform for the first six months and learn from challenges and then they will see aggressive expansion next year. They plan to target all leading Indian diaspora geographies, said TCNS chief executive officer Anant Daga.
The company had reported consumer sales over Rs 500 crore in the previous financial year.
On e-commerce boom and impact on TCNS' sales, Daga said that they have not seen any major negative impact on their sales. In fact, online visibility has added to their brand persona. They have also launched omni-channel experience for their customers.
At present, online channel accounts for 10 percent of its total sales. The company is also in the process to give its website a face lift to keep pace with fast growing e-commerce market.
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