Kewal Kiran Clothing Ltd, the manufacturer of Killer Jeans, is aiming to invest over Rs 35 crore in the current fiscal for expanding manufacturing capacity and opening new outlets, a senior official said on Wednesday. The company plans to increase the overall manufacturing capacity to 10 million units per annum from the present 8 million units, its Joint Managing Director Hemant Jain told reporters.
The manufacturing capacity expansion will be a brownfield project next to its existing units in Daman and Vapi, he said, adding that it will also invest in opening new company-owned outlets.
For better distribution, the company plans to open over 10 new stores by March 2025, which will take the overall number of such points to 40, Jain said, adding that the company will prefer to open the stores before the onset of the festive season that sees high demand.
"We will invest every year from now on to expand capacity. We will invest over Rs 35 crore in FY25 for the two purposes," he said.
The company, which acquired 50% stake in women's jeans maker Kraus recently, is aiming to double the revenue of Kraus in the next three years from Rs 176 crore in FY24, Jain said.
Kraus' Ravi Punjabi said the family-owned brand decided to sell equity because of the synergies it sees with KKCL, and the wider market access it gets.
Jain said KKCL had cash of Rs 390 crore in its books and is paying the Rs 166 crore for the deal from its reserves.
He said excluding the help from the 50% acquisition, KKCL's organic revenues are targeted to grow to Rs 1,000 crore in FY25 from Rs 864 crore. However, he declined to share the overall revenue level.
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