Online fashion brand Teesort.com is looking at raising funds to support its business expansion plans and expecting a turnover of Rs 500 crore by 2020.

“We are looking at raising funds in order to expand fast. We are targeting Rs 500 crore turnover by 2020. We will achieve this by expanding in India and overseas,” Teesort Co-Founder Alok Agarwal told PTI.

Agarwal, however, did not specify the details about the company’s fund-raising plans.

At present, Teesort.com is fully owned by Alok Agarwal and Atul Agarwal who started the company in 2010. The company reported a turnover of Rs 100 crore in the previous fiscal.

Agarwal said: “We have started operations in the US. We are also looking at starting operations in the UK, Europe and Dubai in the Middle East this year. We will also expand in South Asian countries where there is a sizable Indian population.”

“We expect 30 per cent of our turnover to come from international markets by 2020,” he added.

The company, which at present mainly sells men’s wear, is also looking to expand its product portfolio and will begin offering products for women and kids by the end of this fiscal.

Teesort.com offers t-shirts and casual menswear under Teesort and TSX brands.

Source: Financial Express