AND to explore markets abroad riding on PE investment

After the opening of its first Global Desi store in

Mauritius, designer Anita Dongre is all set to explore foreign shores with various labels under her fold, which include, AND. The company plans to sell 33 percent stake to a global PE investor to give wings to its plans to take its brands to international markets.

With an eye on GCC countries and Southeast Asian markets, the company aims to attract an additional Rs 100 crores into the company. The buzz is that several PE players including General Atlantic are eyeing a stake in the 14-year-old company. After the first store launch in 1999, the company has opened over 100 outlets across its three apparel brands.

In 2008, Future Ventures picked up a 23 percent stake in the apparel company when its turnover was Rs 10 crores. It is now in the process of offloading that stake with an additional 10 percent to a new investor with ‘global’ experience. Its turnover last fiscal was Rs 350 crores. AND Designs is expected to take its brands Global Desi and Anita Dongre to new international markets.