Financial Daily from THE HINDU group of publications
Wednesday, Feb 18, 2004
Financial Daily from THE HINDU group of publications Wednesday, Feb 18, 2004 |
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Marketing
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Brands Knitwear brand Classic Polo plans menswear range Our Bureau
Mr R. Sivaram, Executive Director, Royal Classic Group, at a press conference in Chennai on Tuesday. — Bijoy Ghosh
Chennai , Feb. 17 THE Tirupur-based Classic Group plans to extend its Classic Polo range from knitwear to trousers, shirts, shorts and denims in the mid segment or `aspirational-economy' category. The price range for shirts will be from Rs 475 to Rs 895. It also intends to enter the premium segment with an entire range of menswear. Meanwhile, Classic plans to set up a spinning unit with an investment of Rs 20 crore. The unit, to be set up near Palani in Tami Nadu's Dindigul district, is expected to meet the entire knitting and weaving requirements of the company. The facility will have 16,000 spindles and commercial production is expected to start by November this year. Mr R. Sivaram, Executive Director, Classic Group, said that this backward integration would ensure that the company has control on quality and cost parameters. The group, which owns the three-year-old T-shirt brand Classic Polo, is also gearing up to meet the challenges of a quota-free regime and is investing heavily in backward integration and brand building. It also plans to set up its own weaving unit in Tirupur with an in-house washing and processing capability. The new unit will have a production capacity of 1,000 shirts and 300 trousers per day in the first phase. The investment for this expansion will be Rs 1.5 crore and is likely to be completed by June this year. Mr Sivaram said that Classic Polo was launched in the domestic market in technical collaboration with Kitaro GmbH, Germany. The company has engaged the services of the Chennai-based law firm Surana & Surana, to protect its trademark and Intellectual Property Rights (IPR). The company, Mr Sivaram said, is serious about protecting its intangible assets and has laid down systems and processes to manage the IPR, both internationally and domestically. This is important, as the company has invested heavily in research and development and on brand building, he said. The Classic group has been exporting its knitwear products to the European Union and the US. The group consists of Royal Classic Mills (P) Ltd, Classic Knits, Classic Clothing Company and Classic Knit Processor. The products are available in 1,200 multi-brand outlets, 35 shop-in-shops, chain stores and stand alone outlets. The company has opened four outlets in Chennai, Bangalore, Hyderabad and Visakhapatnam. It plans to open another 20 more by this year-end.
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