Classic Polo plans 65 new EBOs this fiscal

Classic Polo will open 65 new exclusive branded outlets this fiscal. As of now, the men’s wear brand from Tirupur operates 135 exclusive stores across India. Besides exclusive stores, the textile brand also retails its products through 6000 multi-brand outlets and large format stores. Classic Polo, popular for its T-shirts, shirts, trousers and accessories for men, has a significance presence in south India and is looking to focus on the eastern and western parts of the country. It will soon launch jeans made of yarn produced from used plastic water bottles and cotton. Apart from Classic Polo, the company also has CP Bro, targeted at youth.

Classic Polo revenues reached Rs 160 crores in fiscal ’19. The brand expects decent growth this financial year, which will take the top line to Rs 200 crores. For fiscal ’21, the revenue target is around Rs 225 crores. Royal Classic Mills, the parent company of Classic Polo, employs 8000 people and its mainstay is exports. Of the Rs 800 crore top line, exports account for Rs 600 crores. Most of its textile units are located around Tirupur in Tamil Nadu.

Classic Polo has a budget for brand building and brand promotion. About five per cent to six per cent of the turnover is benchmarked for brand building activities.