Indian Terrain has opened a new store in Chennai’s acclaimed East Coast Road. Spread over 2,100 sq ft and two floors, the store will have a wide range of apparel for men and boys. The company operates 12 stores in Chennai and over 200 stores across 70 cities in India. Over 100 stores are spread across the five southern states while the rest are spread across North, East and Western India. Over half the total number of stores are located at prominent High streets while the rest are located at Malls and shopping complexes. The store was inaugurated by popular actor and radio jockey Balaji in the presence of Mr. Charath Narasimhan, Managing Director – Indian Terrain and Ms. Shehnaz Shariff, Chief Merchandising Officer – Indian Terrain.
Charath Narasimhan, Managing Director – Indian Terrain, said, “We are thrilled to open our new flagship store in East Coast Road, Chennai. Chennai is our home, and we are always looking to serve our consumers here with bigger and better stores for them to have a comfortable shopping experience. This addition of a new store is an exciting milestone for our brand, and we are looking forward to offering our customers in this side of town a unique shopping experience. We are confident that our new store will offer consumers from the neighbourhood a range of high-quality menswear that will be well-received.”
Chief Guest of the day, Actor and Radio Jockey Balaji said, “I am delighted to be a part of Indian Terrain’s flagship store launch in ECR. Indian Terrain is a brand that is known for its quality and style, and I am sure that the new store will be a huge success. I have been a fan of the brand for many years, and I love the comfort, fit and style of their products. The new store in East Coast Road, Chennai, is a great addition to the city’s fashion scene. I wish the brand all the success in this new venture.”
The two decade old brand is a listed entity in the Bombay Stock Exchange since 2010 onwards, when it demerged from its erstwhile parent company Celebrity Fashions Limited. Indian Terrain was once present across 400+ locations of top department store chains in India such as Lifestyle, Shoppers Stop, Central Malls, Reliance Trends, etc. The brand earlier had a strong distribution network through multi-brand outlets (MBOs).
According to its filing of Q3 results, the company had revenue from operations to the tune of Rs. 121.86 Cr for Q3 FY22-23, a growth of 18% over the same quarter in the previous finanial year when it was Rs. 102.97 Cr. However, there was a drop of Rs. 30 Cr in Q3 FY 22-23 from Rs. 154.38 Cr in Q2 FY 22-23. For the first three quarters of the current financial year, the company had a significant growth in revenues to the tune of of Rs. 150 Cr, from 227.62 Cr during 9M FY 21-22 to Rs. 374.87 Cr during 9M FY 22-23.
Total comprehensive income for Q3 FY 22-23 fell to Rs. 2.22 Cr as against Rs. 8.54 Cr during Q2 FY 22-23. For Q3 FY 21-22, total comprehensive income was Rs. 1.57 Cr. For 9M ending Dec. 22, the total comprehensive income has grown to Rs. 13.24 Cr from a loss of 8.48 Cr during 9M FY 21-22.
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