Financial Daily from THE HINDU group of publications
Thursday, May 19, 2005
Financial Daily from THE HINDU group of publications Thursday, May 19, 2005 |
|
|
|
|
|
Marketing
-
Retailing Menswear co Hasbro plans to consolidate presence in South Our Bureau
Chennai , May 18 CHENNAI-based menswear company Hasbro, which owns the Genesis and Basics brands, plans to consolidate its presence in South India and, in the process, hopes to garner Rs 50 crore in revenues by the end of this fiscal. The privately held company, run by brothers Hanif and Suhail Sattar, plans to add 10 more to its existing 14 exclusive stores, four of which are managed by franchisees. The brand is also available across 300 multi-brand outlets. The expansion, to be funded mostly from internal accruals, will be in South India. The investment for the new stores could be around Rs 3.5 crore, said Mr Hanif Sattar. "We believe there is scope for another 25 stores in South India itself," said he. The company has also introduced a new logo for its casual wear brand Basics. The logo, that of a victorious person with arms raised in triumph, was developed "to embrace changing market situations", said a company press release. Genesis, its formal wear brand, retains its identity. In line with its belief that "fashion is the way forward", Hasbro will, in the next few months, launch a design studio, for which it has already recruit fashion designers. With this accent on R&D, the company would need to curtail its ad spends, Mr Hanif Sattar said. Hasbro, which also unveiled its renovated flagship store on Nungambakkam High Road, one of the city's main arteries, here today, earned revenues of Rs 35 crore for the year ending March 2005. The figure includes earnings from branded exports, which account for around 15 per cent, retail operations and multi-branded outletsThe partners said Hasbro's priority would be to consolidate its business in South India and then expand the product line in menswear. Womenswear is not on the cards right now, they said, answering a question.
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|