The Loot news and archive

The Loot closes all its stores

Multi-brand apparel chain The Loot is shutting all its shops soon. The company plans to shut all its stores within the next 10 days as it has failed to repay loans to lenders. Most of the Loot outlets have already shuttered down. The Loot was operating 145 outlets in 2010-11 in 82 cities. Incorporated in 2003, the company had taken a loan of...

Apparel

The Loot undertakes restructuring

Deep discount chain, Loot is next in line to face the rough weather and acute fund crunch. As a result it’s restructuring its operations to wade through drop in sales and rise in operating costs. The situation is so bad that the company has delayed staff payment by two months. Even many of their front-end staff has put in their papers in the...

Fashion

Deep discount brands bear excise brunt

Ever since a 10 per cent excise duty was imposed on branded garments, brands that offer year-long deep discounts have been facing tough times. In fact, it is they who have been hit the hardest by the new tax regime. Experts say that the 10 per cent excise duty has hampered summer sales and winter bookings are also slow. And apparel retailers...

Fashion

The Loot: Eyeing pan India spread

The Loot, a multi-brand, multi-location discount chain offering a wide range of products in apparel, footwear and accessories for men, women and kids with discounts ranging between 25 to 60 per cent throughout the year, is now looking at expanding its reach. It plans to open 40 new stores by July this year, taking up the number of The Loot...

Apparel

Apparel makers/retailers IPOs yet to take off

Many privately-owned textile retailers /manufacturers and garment manufacturers/retailers plan to get listed in the next few months. But it isn’t all hunky dory as the market sentiment has taken a downturn since Diwali and benchmark indices have fallen over 9 per cent in the past three weeks. Brokers say that companies may have to moderate their...

Apparel

The Loot to file for Rs 100-cr IPO

The Loot, a multi-brand discount store chain that offers leading international and national apparel, footwear and accessories brands at discounts, is filing papers for Rs 100-cr IPO by the next fiscal. The company plans to file Draft Red Herring Prospectus (DRHP) by March 31, 2011 for its initial public offer through which it hopes to raise Rs...

Apparel

Discount retail chains on expansion spree

Discount retail business is indeed booming across India as is evident from the massive presence of top discount retail brands Megamart, The Loot and the Brand Factory. On the other hand, Promart, run by Provogue has scaled down and abandoned its initial plans to open 20 more outlets across India, while solidifying its presence in Ahmedabad and...

Apparel

The Loot’s big plans

Jay Gupta of The Loot Stores, the chain of multi-brand stores at discounted prices has revealed the chain’s big plans. He says they have experienced an average growth of 40 to 50 per cent year-on-year basis and a whopping 60 per cent growth this festive season. This has made the management confident to put together an ambitious growth plan....

Apparel

Apparel companies opt for IPOs

Private equity investments and initial public offerings seem to be the flavour of the season among niche mid-cap apparel retailers that are scouting for funds to scale up operations. Retailers such as Cantabil, The Loot, and Gini and Jony are going public while many others such as Catmoss and Lilliput have already diluted stake to PE investors...

Fashion

The Loot plans an IPO by 2011

The Loot, the multi-brand, discount store chain that offers leading international and national brands at massive discounts, is planning to launch an IPO. So far, The Loot has been self-funded. Going forward, the plan is to launch either an IPO or go in for dilution of equity. By the end of 2011, a decision will be finalized. As managing director...

Apparel

The Loot’s monsoon indulgence

The Loot, India’s largest multi brand discount retail store has something new for everyone this monsoon season. With a wide range of apparels and accessories in its monsoon collection to choose from, The Loot stores are offering up to 60 per cent off on almost everything. Accessories and clothes in bright colors, different prints and light...

Fashion

The Loot cashing in on the slowdown

The Loot, a multibrand retail chain, says the economic slowdown has actually done well for their chain. The chain that saw footfalls increasing in the last year is now chalking out plans to expand. “We had a completely different experience during the downturn. We saw footfalls increase, as result in the last 18 months we scaled up to 140 stores...