BCCL Acquired 3.33% Stake In SKC
Bennett Coleman & Company (BCCL) has acquired a 3.33% stake in SKC Retail Limited, a Rs 260-crore leading retail chain in South India. SKC Retail, which started in 1995, is present in textiles and ready-made garments for all age-group segment and boasts of 40 lakh customers visiting their outlets annually. SKC is one of the major players in Chennai and Coimbatore markets and is now all set to acquire major market share in Bangalore, Hyderabad and Pune.The company recorded an annual turnover of Rs 170 crores in 2006-07 and Rs 260 crore in 2007-08.
Presently the company has 13 showrooms in five cities. SKC MD Praful Kumar Bisani said, “Today the retail industry is growing at an expeditious rate and with this partnership, we hope to penetrate into the retail market aggressively and expand our current position.” About a year back, the firm expanded the size of its showrooms to two lakh sq feet. For the financial year ended March 2007, SKC saw a top line CAGR of 88% & net profit CAGR of 66%. The company recorded an annual turnover of Rs 170 crores in 2006-07 and Rs 260 crore in 2007-08.
