Ace Turtle pivots to premium denims

Ace Turtle, the company behind denim brands Lee, G-Star and Wrangler, is stepping away from India’s crowded value denim segment, sharpening its focus on premium brands as it looks to rebuild margins and define a clear market position.

- Varuni Khosla [e-mail]

The G-Star brand is expected to contribute around 20% of revenue in three years, says Nitin Chhabra, CEO, Ace Turtle.

(Mint)

Nitin Chhabra, chief executive, told Mint that the shift has meant it has a tighter strategy centred on fashion, sourcing and distribution. “We are on track to achieve Ebitda positivity in the September quarter. For the full fiscal year, we are targeting a strong growth trajectory, with revenues expected to rise by approximately 25% compared to the previous year,” he said. Ebitda is short for earnings before interest, taxes, depreciation and amortization.