Calcutta, March 12: City-based leather accessory maker Torero Corporation is eyeing a 40 per cent growth in turnover at $7 million in 2016-17 against around $5 million in the last fiscal.

Last year, the company had acquired the rights to design, manufacture, distribute and retail Police-branded leather accessories, bags and shoes in India, the US and Europe.

"The new tie-up with the Police brand and the Cross brand, with which we had already partnered earlier, will make it easy for us to reach the target," said Yashovardhan Gupta, director and CEO of Torero Corporation.

Italian brand Police has invested $1.1 million to build the brand and penetrate the market in India, the UK, France, Spain, Belgium and the US. Owned by the De Rigo group, Police has a turnover of 400 million euros.

Torero, which pays royalty to Police and Cross for manufacturing and distribution rights, has over 300 national and more than 1,200 international points of sales and has associated with Shoppers Stop as the retail partner in India.

"At present, we are present in 50 Shoppers Stop and within February, 10 more stores will be added," Gupta said.

Online sales contribute about 13 per cent to the company's total revenues. The company has partnered Flipkart, Amazon, Myntra and Jabong.

"Usually online sales contribute in single digits for most companies but for us it has played a significant role both nationally and internationally," Gupta said.

The company mostly imports finished leather from Spain and Italy as there is no duty on this product.

Indian leather is also used for a very small range of products.