Cotstyle plans expansion of products and markets

While widening its product base in the premium category well known brand Cotstyle from GTN Industries is eyeing 40 per cent growth next year. Cotstyle is also targeting a turnover of Rs 80 crores in the next two to three years, up from its current figure of around

Rs 20 crores.  The brand had made an entry into Nepal earlier this year and is planning to widen its base abroad. It’s looking at penetrating markets in the Middle East, Sri Lanka and South Africa by the end of this fiscal.

New product offerings

Cotstyle is a knitwear brand offering socks and polo shirts which are unique in their segment. Both are premium and designed for comfort and style. The brand manufactures 100 per cent American Pima and Egyptian Giza superior cotton, double mercerized polos. Cotstyle socks are unique in its class with 100 per cent Egyptian Giza superior cotton yarn and mercerized cotton.

Polo shirts are offered in at least 100 styles in a season. “We do continuous research, which helps the designing team to come out with more number of designs,” explains R V R Prasad, GM-Sales and Marketing, Cotstyle Apparelsadding, “Socks is a non seasonal product and our offer includes rib (6x1, 4x1), stripes, designs, plains and different patterns which suit all trouser colours. For autumn-winter 2013, Cotstyle has brought a collection with a blend of exciting colours of the season and a new Bitone range along with the striper collection.”

AW’13 shall also see the launch of Cotstyle – Exclusive Club collection made from superior cotton and targeted at those who are looking for comfort and luxury. This collection has been designed to be worn along with suits, blazers and jackets during the winter. Cotstyle launched its socks range in 2009 while Polos hit the market in summer 2011.

Retail on the roll

Presently Cotstyle is marketed in the country through a network of well established distributors who service 800 MBOs for socks and over 350 MBOs for polo shirts. Over the last three seasons, Cotstyle’s growth has been well supported by its penetration into Tier II, III cities. “The demand in these cities is almost similar to Tier I, which made Cotstyle a success with a near complete national presence. The brand has also made its way into Nepal early this year and we’re targeting the Middle East, Sri Lanka and South Africa by the end of this financial year,” states Prasad.

The brand is not online so far, but GTN plans to launch its own e-portal by early 2014. “Indian domestic apparel market is expected to touch Rs 3,70,000 crores by 2020 and we expect the brand to achieve Rs 250 crores turnover by 2020. Keeping this vision in mind, we’ve already initiated the process to explore new markets,” Prasad sums up.