Derby is also looking at launching a website to offer its products in the international market in various currencies
Apparel brand Derby Jeans Community is looking at reentering the northern market in the next financial year, where the company had stopped operations to focus on South.
The company is also looking at launching a website to offer its products in the international market in various currencies.
Speaking on the sidelines of an interaction with the students of Loyola Institute of Business Administration (LIBA), organised by LIBA and Business Standard, Vijay Kapoor, managing director of Derby, said, “Next year we are entering Delhi and beyond. Derby was a national brand in 2011-12. But we understood the market was not very matured then. Neither did we have deep pockets, because our funding comes from within. So we withdrew from those markets to strengthen ourselves in the South.”
Now the company has a strong balance sheet and a foothold in the market and wants to build on its strength by going national, he said. The company is targeting 1,000 franchisee shops and creating 1,000 successful entrepreneurs through this route by 2025.
As part of its aspiration to be a global brand from India, he said the company will launch a website in two months.
“We will also have multiple currency trades for the Asian market. We are tying up with Fedex and are also looking at all the national laws to ensure smooth deliveries. This will give us a global presence overnight,” he said. The products will be shipped out of India.
Kapoor did not want to reveal his turnover and said the company was not looking at raising funds for expansion.
The Chennai-based men’s brand has 68 exclusive franchisee stores and plans to expand this to 100 by the end of this year. It also has a small presence in Punjab.