Kolkata-headquartered menswear apparel and accessories maker Turtle is planning to launch its own brand of casual clothing.
The company is in talks with several foreign players – mostly UK-based denim brands – to firm up its product portfolio for the new range.
The new brand is expected to be launched between end of 2012 and early 2013. A name has not been decided.
“Some foreign collaborator may partner us for the project. However, if the talks fail, we may go ahead on our own,” Mr Amit Ladsaria, director, Turtle, told
“Plans have not yet been cemented but we are expecting the launch of this new brand in another 12 to 15 months.”
Market sources say that a possible entry of foreign brands in a market could be through a licensing agreement, a joint venture or a buyout of the intellectual property rights of the (foreign) brand.
Turtle has some denim offerings, but it does not have a dedicated range of casual wear. “Most casual brands concentrate of denim as an offering and we are exploring the option,” Mr Ladsaria said.
The company has two lifestyle brands under the names Turtle and London Bridge. While Turtle competes with premium brands such as Scullers and Lombard, London Bridge is a value brand offering lower priced products.
Production Capacities
According to Mr Ladsaria, the company is firming up its production capacities to cater to an increase in demand as well as its new clothing range. While talks are on with private labels in Bangladesh, it is also in discussions with Indian private labels to ensure higher supply.
The company produces nearly two million units annually from its facilities — one each in Kolkata (West Bengal), Howrah (West Bengal) and Bangalore (Karnataka). It procures another one million units from private labels in India.