Mumbai-headquartered women's footwear brand Catwalk Worldwide Pvt Ltd is gearing up to raise funds from an investor to expand further. In a chat, Asif Merchant, managing director of the company, says he was waiting for the right time to raise funds so that the company can match expectations of a PE fund or any other strategic investor. “We have been growing at a CAGR of 25 per cent for the last five years. You cannot survive without funding in this industry,” he says.
Merchant says he understands the compulsions of the PE industry while they are investing in companies. Unfortunately, according to him, footwear PE deals are miniature in front of apparel deals. “We have done preparation, so that there is no mismatch with the expectations of the investor. We get to know of one serious buyer every month,” he says. In an interview, Merchant talks about the company’s expansion plans, PE funding, business model and trends in the retail sector.