Cantabil plans to introduce sportswear range

"We have plans to come out sportswear range going head, may be in the next two years. We are already working on the same," Cantabil Retail Chairman and Managing Director Vijay Bansal told PTI.

The company currently sells casual and formal wear for men, women and kids under 'Cantabil' and 'La Fanso' brands. "We would also consider collaboration with international brands, besides launching premium labels in the next couple of years," Bansal said.

He, however said that the company's focus currently is to expand its retail reach by opening more stores under the existing brands and also enhance production capacity.
To fund the expansion, Cantabil has proposed to raise Rs 105 crore through an initial public offer (IPO) that opens on September 22. The issue managed by SPA Merchant Bankers will close on September 27.

The company has fixed the price band of the issue between Rs 127 and Rs 135 per equity share. "The IPO proceeds will be utilised for setting up of a new manufacturing unit, expansion of retail network, repayment of debt and for working capital requirement," Bansal said.

Cantabil is setting up a new manufacturing unit in Haryana, in addition to its existing three facilities. Besides, it also plans to set up 180 stores new stores. Currently Cantabil runs 411 exclusive outlets across India, which include 270 stores of family-wear 'Cantabil' and 141 stores of the menswear brand 'La Fanso'.