Nachiket Kelkar
Moneycontrol.com
Kewal Kiran has targeted revenues of Rs 1,000 crore by March 2016, boosted by strong sales in the apparel and expansion of accessories business. "The company expects a revenue growth of at least 25% in the current fiscal," CFO Shantilal Kothari told moneycontrol.com.In FY11, the company reported sales of Rs 236.6 crore. It now plans to focus on expanding its apparel business into premium categories. Hence, the Mumbai-based clothing company has tied up with fashion designer Narendra Kumar to sell co-branded jeans in the range of Rs 4,000-5,000.Don't Miss: Tata Steel sells Riversdale Mining stake for A$1.06bnKewal Kiran, which makes brands like Killer and Lawman jeans, is also betting big on accessories such as shoes, watches and personal care products (shower gels, deodorants). Currently, accessories account for just 2-3% of total sales, but the company hopes to add Rs 200 crore from accessories sales in the next four years.As of now, the company mostly sells its accessories from its apparel stores; however, it plans to expand its distribution to other avenues like shopping malls and other outlets. To cushion its plans, it has already opened five stores called 'Addiction' for its accessories' retail foray. Kewal Kiran has 192 apparel stores called the K-lounge. "In the current fiscal year, it plans to add at least 50 new stores," Kothari stated, adding that the company will focus on small towns to expand its retail footprint. Most of the stores will continue to be franchisee owned.The company has planned a capital outlay of Rs 250 crore over the next four years. Out of this, it will use Rs 150 crore towards expanding our manufacturing facilities, retail outlets and IT infrastructure among other things. The capex will be funded by internal accruals, he concluded. Shares of Kewal Kiran closed at Rs 627.35, down 2.7% on Thursday. 
