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Classic Polo plans 65 new outlets
Mens’ wear brand eyes Rs 200 crore revenues
Hyderabad: Classic Polo, the mens' wear brand from Tirupur, Tamil Nadu-based Royal Classic Mills Private Limited, on Tuesday announced plans to open 65 new exclusive branded outlets (EBOs) this fiscal, taking its store count to 200.
The textile brand currently operates 135 exclusive stores across India.
"Classic Polo has significance presence in South India.
We are now looking to focus on Eastern and Western part of the country. East India offers huge potential for growth," Ramesh V Kheni, Director-Retail, Classic Polo, told the media here.
Besides exclusive stores, the textile brand also retails its products through 6,000 multi-brand outlets and large format stores. The brand which is popular for its T Shirts also has shirts, trousers and accessories for men in its line-up.
It will soon launch jeans made of yarn produced from used plastic water bottles and cotton. Apart from Classic Polo, the company also has CP Bro, targeted at youth.
"Our revenues from Classic Polo brand reached Rs 160 crore in FY19. We are expecting a decent growth this financial year, which will take our top line to Rs 200 crore. In FY21, our revenue target will be Rs 225-250 crore," said Dhyanesh Kumar, the brand's Senior Vice President-Sales & Marketing.
In Telugu states, the brand currently has 18 exclusive stores. "We plan to take the store count to 35 in the current financial year," said Gunduboina Srikanth, General Manager, Business Development, Classic Polo.
Royal Classic Mills, the parent company of Classic Polo, employs 8,000 people and its mainstay is exports. Of the Rs 800 crore top line, exports account for Rs 600 crore.
"Most of our textile units are located around Tirupur in Tamil Nadu, but we will explore the possibility of setting up unit in Telugu states if we go for further expansion," Srikanth added.
