Online fashion brand ‘Teesort.com’ plans to raise capital to support its growth plans, which includes achieving revenues of Rs.500 crore by 2020 from the present Rs.100 crore per year. Teesort currently has already started operations in the US, and plans to expand to the UK, Europe and the Middle East this year, which has a sizeable Indian diaspora.
"We are looking at raising funds in order to expand fast. We are targeting Rs.500 crore turnover by 2020. We will achieve this by expanding in India and overseas," Alok Agarwal, co-founder of Teesort said.
Agarwal, however, did not specify the details about the company's fund-raising plans. At present, the company is fully owned by Alok Agarwal and Atul Agarwal who started the company in 2010. The company reported a turnover of Rs.100 crore in the previous fiscal.
The online brand which currently deals in only menswear is also planning to expand in to the womenswear and kidswear category by this fiscal end.
Apparel & Textile News - Apparel Talk, Indian Apparel