Ivy League targets Rs 400 crores by 2021

Kidswear brand 612 League is aiming to clock a revenue of Rs 400 crores by 2021. To reach this target, it has initiated the fund raising of Rs 65 crores and is in the process of appointing investment bankers. So far it has invested Rs 65 crores in the venture. The company reported a turnover of Rs 100 crores the previous fiscal. Right now it’s the number three brand in the Indian market and is targeting to achieve a market leadership position.

At present, 612 League sells its products through 460 points of sale across the country, which it plans to increase to 800 by 2021. The company, which gets 62 per cent of its revenues from non-metros, is also looking to increase the contribution of online sales to 14 per cent in the next one to two years from 8 or 9 per cent now.

It is also planning to export its products once it has fully penetrated the domestic market. The company, which started five years back, is expanding its product portfolio by adding categories such as accessories and shoes and plans to scale its exclusive outlets from 50 at present to 200 by 2021.