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Mumbai, Jan 14 : After hiving off its retail division into a separate company Brandhouse Retail, promoter Nitin Kasliwal of S Kumars Nationwide Limited (SKNL) is planning to partially offload his stake in the 100% subsidiary to private equity players. The proceeds will be used to fund its Rs 400 crore expansion plan, over the next three years.
Confirming the move, Tarun Joshi, CEO, Brandhouse Retail, told FE, “Once our demerger is complete, we will take a call (on hiving off stake to private equity) soon.”
Around Rs 300 crore out of the proposed Rs 400 crore plan will have to come from outside for which the company is looking at a combination of debt nd equity. Brandhouse Retail which is in the process of managing a network of 140 outlets, plans to expand its network to 470 outlets by March, 2008.
Brandhouse Retail is also setting up outlets for luxury international brands—Dunhill and Escada—starting March this year. The company hopes to close this financial year with 60 outlets for the home textile brand Carmichael House.
The Rs 900 crore S Kumars Nationwide Limited (SKNL), the flagship company of the S Kumar’s group, has firmed up plans to establish its presence across the entire value chain of the men’s garments business.
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