Turtle Ltd scouts for international denim brand

BANGALORE: Menswear apparel and accessories company Turtle Ltd is keen on licensing an international denimwear brand to complete its Indian portfolio within two years. The Kolkata-based company is backing this up with aspirations to expand international sales to South Africa as well.

“We are in talks with companies in Turkey, Berlin and London for a jeanswear brand licensing arrangement. This will add to our portfolio which is in formal and casual menswear and will propel growth in the segment further,” Amit Ladsaria, director Turtle, said.

The company operates in the mass premium segment with Turtle’s shirts being retailed at Rs 895- Rs 1295 while brand London Bridge operates at price points below Rs 899. A licensing arrangement will allow Turtle to locally manufacture, enabling it to retain its current brand positioning.

Future Ventures India—the venture capital division of Future Group—holds a minority stake in the company.

“We are exploring sales in South Africa as well,” Ladsaria, said. Turtle retails in the Middle East and Nepal through multi-brand outlets. The company clocked Rs 88 crore in sales last fiscal and plans to add 24 exclusive stores to a 48-outlet network.