Louis Phillipe and Van Heusen target Tier2 and 3 towns
Each of the brands under Madura Fashion & Lifestyle of Aditya Birla Nuvo Ltd. is targeting a turnover of Rs 850 crore.
By ET Bureau | Updated:
KOCHI: Premium readymade brands Louis Phillipe and Van Heusen are planning a major foray into tier 2 and 3 towns as part of its efforts to log a growth of 30% in the current year. Each of the brands under Madura Fashion & Lifestyle of Aditya Birla Nuvo Ltd. is targeting a turnover of Rs 850 crore.
LouisPhillipe brand head Jacob John said the brand, which used cater to the age group above 30, has now a wide range of choices for the youth as well. This has helped in the aggressive growth of the brand, which is present in 100 exclusive stores in the country besides in multi brand outlets.
Ajay Ramachandran, Van Heusen brand head, said the growth is coming from smaller towns like Jaipur, Thrissur, Patna, Dehradun etc. In Kerala it has opened a store in Kottayam and two more in Kollam and Thiruvananthapuram are in the pipeline."We are also going for larger format stores of 4000 sq ft. In fact, in our future expansion plans, about 20 to 25% of the stores will be in this category," he said.
The rising input cost had an impact on the retail prices of the brands, they said. Vaulting cotton prices pushed up the fabric costs by 30 to 40 % last year. The company was forced to pass it on to the consumers.
LouisPhillipe brand head Jacob John said the brand, which used cater to the age group above 30, has now a wide range of choices for the youth as well. This has helped in the aggressive growth of the brand, which is present in 100 exclusive stores in the country besides in multi brand outlets.
Ajay Ramachandran, Van Heusen brand head, said the growth is coming from smaller towns like Jaipur, Thrissur, Patna, Dehradun etc. In Kerala it has opened a store in Kottayam and two more in Kollam and Thiruvananthapuram are in the pipeline."We are also going for larger format stores of 4000 sq ft. In fact, in our future expansion plans, about 20 to 25% of the stores will be in this category," he said.
The rising input cost had an impact on the retail prices of the brands, they said. Vaulting cotton prices pushed up the fabric costs by 30 to 40 % last year. The company was forced to pass it on to the consumers.
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