UTI Ventures invests Rs 27 cr in Koutons

MUMBAI: Equity firm UTI Ventures has invested Rs 27 crore in menswear brand Koutons Retail India Ltd.

"Koutons is an established brand in the North and East and will shortly have a pan Indian presence. The company intends to ramp up its production to one crore garments this year," Koutons Chairman DPS Kohli said in a press release.

The Company is targeting a turnover of Rs 1,000 crore in the next two years, he said.

Koutons currently has 284 stores spread across 2.5 lakh square feet area and it plans to scale up this number to 600 stores across six lakh square feet area by 2008, he said.

UTI Ventures CEO and MD Raja Kumar said: "Organised retailing is set to grow significantly in India. Koutons is a unique Indian brand and will emerge as one of the largest players in this segment."