Proline to leverage varsities to drive growth

Proline India, Mumbai-based apparel company, plans to position itself in educational institutions in India leverage the demographic dividend and drive growth, according to its CEO Sandeep Mukim.

“We plan to open three stores in premier institutions like IITs, IIMs by March next year to sell our ‘Proline Varsity’ range of readymade wear. We see a lot of potential in this segment," he said, after launching a range of sub-brands targetted at multiple segments.
 The company, which would be closing the current fiscal with a turnover of Rs 60 crore and hopes to achieve Rs 200 crore within five years, plans to open about 10 stores this year and another 50 over the next two years.

 Proline aims to garner 15 per cent of the Indian knitwear business estimated at about Rs 1,200 crore and growing at a rate of about 15 per cent. It has a presence in West Asia and plans to extend its footprint to Sri Lanka and African countries soon. Mukim said the relaxation of FDI norms in multi-brand retail will have little impact on the apparel market as most of popular foreign brands already have a presence in India.