MUMBAI: Premium apparel menswear brandBlackberrys is looking to enter international markets, even as it plans a big-ticket acquisition in India. "We are in the final stages of acquiring a casual denim wear brand," Nitin Mohan, managing director, Blackberrys, told ET.
The company has appointed advisory firm Ernst & Young to oversee the acquisition, estimated to be between 100-200 crore. With a turnover of 540 crore and compounded annual growth rate of 40%, Blackberrys is looking to end this fiscal with a turnover of 800 crore. "In the next 5 years we are targeting to clock in at least 2,000 crore," said Mohan.
Sunil Gokhlani, VP-retail, Blackberrys, said, "The talks were on for the last 12 months and there are a number of brands that have shown interest. Since our brand stands for the youth, the acquisition will be in the same segment."
Global markets are also on the agenda, with the first outlet overseas being a shop-in-shop in Kathmandu's plush Durbar Marg. Blackberrys plans to enter a couple of markets in theMiddle East and South East Asia within a year. "Our strategy is to start with the most upmarket malls like Mall of Emirates, Mall of Dubai, City Centre and so on, because otherwise the aspiration levels might not match with what we are expecting," says Gokhlani.