The Loot to triple store network in 3 years, plans Rs100 cr IPO

Leading retail chain, The Loot, plans to almost triple its the next three years at an investment of Rs100 crore, a top company offict three years opened 120 stores across 75 cities in India. "Our plan is to achieve greater penetration into Tier II and III markets next three years," The Loot's managing director, Jay Gupta, told these new stores will be on a franchise basis, Gupta said.

The Loot customers a wide range of products in apparels, footwear and accessories with di to over 75% throughout the year. It stocks the highest number of brands in i plans to add 60 stores by March 2010. On its plans for an IPO announced  sometime ago, Gupta said that the chain was eyeing an IPO of around Rs100crore, the timing of which would be decided soon.

"We are planning an IPO of Rs100 crore and will use the proceeds to fuel our expansion. It will be launched in the next 15-months," Gupta said.

The company had a net sales of Rs68 crore in the last fiscal and targets Rs125 crore this fiscal.