The leather footwear and garments producer also plans to increase retail operations in the domestic market.
NEW DELHI: Leather footwear and garments producer Superhouse is eyeing revenues of Rs 375 crore in the current year as it plans to double capacities and increase retail operations in the domestic market.
"We plan to invest up to Rs 20 crore to expand the footwear capacity to 30,000 pairs a day from 15,000 pairs currently. We would also expand our two tanneries from 5 million sq ft to six million sq ft by August," Superhouse Chairman and Managing Director Mukhtarul Amin said.
With these initiatives, the company expects turnover to touch Rs 500 crore by fiscal 2008-09. Last year, the company's revenues stood at Rs 300 crore and this fiscal it expects them to grow to Rs 375 crore.
The Kanpur-based company would also expand its retail network and open 10 stores under the Allen Cooper brand.
"Currently, we have about seven stores and we would take this number to 18. Initially expansion of the retail stores, which would be both franchisee-run and company-owned, would be concentrated in North India," Amin, who is also the Chairman of the Council for Leather Exports, said.
The company is planning to position its products in the mid-market segment and develop Allen Cooper as a complete leather brand.
"Our stores will sell footwear, garments, accessories and even bags. The company is already retailing its products in France, UK and the Middle East," he added.
While Superhouse has planned expansion at its existing units in Agra and Kanpur, it is open to moving to new geographies if tax benefits are available.
"We can look at setting up a unit in an SEZ since it would provide the logistics support as well," he said.
The company's shares today closed at Rs 64.80, up nearly 4.5 per cent on the Bombay Stock Exchange.
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