Sports and Leisure to invest $10 mn to ramp up presence in India
Sports and Leisure Apparel Ltd, which is the Lacoste licence-holder in India, plans to invest around $10 mn to ramp up the brand’s presence. Kick-starting blockbusters
By TNN |
KOLKATA: Sports and Leisure Apparel Limited, a Turner Morrison group company which is the Lacoste licence-holder in India, plans to invest around $10 million to ramp up the brand���s presence in the country over the next two years.
The company plans to have 10 flagship stores, each about 4,000 sq ft in area, 40-50 boutiques, between 1,500-2,400 sq ft in area and 10-15 corners, each about 1,000 sq ft in area, across the country in two years.
The company plans to have 10 flagship stores, each about 4,000 sq ft in area, 40-50 boutiques, between 1,500-2,400 sq ft in area and 10-15 corners, each about 1,000 sq ft in area, across the country in two years.
| | Also Read |
| �� | |
| �� | |
| �� | |
| �� | |
| �� | |
| �� |
At present, there are three flagship Lacoste stores, 37 boutiques and two corners in India. Over the last two years, average area per store has grown by 180%. The company, which last year closed down 14 Lacoste stores, opened six new ones and increased capacity in its Noida manufacturing unit by 30%, is all in favour of expansion through company-owned stores, as a ���fundamental strategy to control the customer���s experience,��� managing director and chief executive officer Vikas Gupta said in Kolkata on Friday.
���In India, we have been doubling our turnover every three years, that will continue,��� said Mr Gupta. ���In line with that, our customer base has also been growing by 40-60% every three years,��� he added. Incidentally, Lacoste posted worldwide sales of e1.5 billion in 2007 in wholesale terms. Lacoste has global licences for eight lines of business: apparel, fragrances, sunglasses, footwear, leather goods, belts, watches and bed and bath linen.
���Six of the product categories are present in India and we should have the watches as well by the next six months. The bed and bath linen may take a while longer,��� said Mr Gupta.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
