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Argonaut to Provide Support to Koutons
By siliconindia
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Friday, 24 November 2006, 18:30 IST |
2 Comments
Bangalore: American billionaire businessman George Kaiser's equity profit outfit Argonaut is investing $11 million in the Indian menswear brand Koutons worth $100 million. Argonaut already has invested $75 million in India in ventures like Midas Communications, Blue River and Venture East. The equity fund plans to ramp up its investment up to $500 million in the next two to three years after the company receives the FII standard it has applied for.
Koutons plans to launch a range of women's western causal wear in the next season and increase its retail chain presence by having 500 Koutons and 200 Charlie Outlaw stores in 2006-07. The company is consolidating its presence in the eastern and western sector and plans to enter the southern states in the next fiscal. And in its endeavors, Koutons has the blessings of Argonaut, as the private equity player has committed to contribute more funding for its ventures.