With Robust Q2 growth Kewal Kiran Clothing eyes strategic expansion
Kewal Kiran Clothing, the menswear manufacturer, clocked in Rs 50 crore YoY surge in profit for the second quarter ending September 2023. Revenues grew 16 per cent, and apparel volume saw a 9 per cent YoY increase. Despite a reduced contribution from jeans, there was a 6 per cent YoY improvement in realization, reaching Rs 995. The company plans to capitalize on its established brands' visibility while creating a market for new products.
With a focus on retail expansion, Kewal Kiran Clothing boasts 3,000+ multi-brand outlets, 2,000+ counters in large format stores, and 453 exclusive brand outlets. Looking ahead, the company aims to expand its exclusive brand outlet network for Killer and Integriti brands, with an asset-light franchise-owned franchisee-operated (FOFO) model. The goal is to establish 80-100 EBOs annually, targeting 20 per cent CAGR expansion between FY23-25, according to Antique Stock Broking.