Koutons to tap capital market, files DRHP

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The retail garment brand Koutons has filed its draft red herring prospectus, DRHP with SEBI and intends to enter the capital market with an IPO.

As on February 28, 2007, the company had 26 manufacturing and warehouse facilities in and around Gurgaon, and a network of 674 retail outlets across India.
 
Passport India Investments (Mauritius) has picked up 6,00,000 equity shares in Koutons Retail India for an investment amount of Rs 210 million. Passport has been allotted the equity shares at a fixed price of Rs 350 per equity share. With this infusion Koutons Retail India has raised an aggregate amount of Rs 1,216 million as private equity since June 2006. The earlier investors were UTI Venture Funds Management Company Private Limited and Argonaut Ventures.
  
DPS Kohli, chairman of Koutons said, "We believe that we are well positioned to capture considerable growth opportunities in Indian apparel manufacturing and retail sector. The key strength of our company lies in wide network of exclusive brand outlets, with low-cost sourcing capabilities, unique brand positioning, design and merchandising expertise, with a pulse on fashion, experienced and efficient management, wide apparel range and IT Infrastructure."

Koutons Retail India is an Indian company branding and marketing its products as "Koutons" and "Charlie Outlaw". The Koutons brand is positioned in the middle to high fashion segment, offering a complete range of a man's wardrobe (in the age group of 22 to 45 years) ranging from semi formal to casual and party wear. The old premier brand "Charlie" has recently been reinvented and re-launched as "Charlie Outlaw". The "Charlie Outlaw" brand is a casual brand targeted at fashion conscious youngsters in the age group of 14 to 25 years and is positioned as a fashionable and contemporary, value for money brand.