Turtle clocks Rs.122 crore revenue

Hyderabad, April 18 (IANS) Turtle, a leading manufacturer and retailer of men's apparel and accessories, registered a growth of 50 percent in revenue during 2011-12 and expects the same level of growth during the current year.

The Kolkata-based firm had revenues of Rs.122 crore during 2011-12 and has set a target of Rs.175 crore this year.

Turtle has 55 stores across the country and is adding three stores a month, said Shitanshu Jhunjhunwalla, director, Turtle, at the opening of its second exclusive store in Hyderabad.

He told reporters that they had aggressive expansion plans for Andhra Pradesh. "We plan to open six to seven stores in the next 12 months. Besides Hyderabad, we are also looking at Vijayawada and Visakhapatnam," he said.

The firm will be launching a portal for online sale in the next two weeks. He pointed out that customers in remote places are interested in purchasing the apparel online.

Over one lakh customers have added to Turtle's customer loyalty programme. The mobile phone-based programme offers points for every purchase of Rs.100 and the same can be redeemed at the next purchase.