Financial Daily from THE HINDU group of publications
Thursday, Aug 04, 2005
Financial Daily from THE HINDU group of publications Thursday, Aug 04, 2005 |
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Marketing
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Retailing Classic Polo plans 30 more stores Our Bureau
Bangalore , Aug. 3
TIRUPUR-based Royal Classic Group (RCG) plans to add 30 more Classic Polo stores by 2007 to its existing 20 outlets across the country, in a bid to strengthen its retail stores chain. The group would be adding six stores during the current year showcasing its slew of apparels and innerwear brands. The Rs 220-crore RCG has focussed on retail to achieve faster growth in its textiles business, which initially revolved round yarn trading and fabric-making. The group, with a vertically integrated infrastructure from cotton growing to retail outlets, has projected a turnover of Rs 300 crore for the current financial year. The company expects a 56 per cent growth in its Classic Polo brand shirts and trousers at Rs 25 crore for the current fiscal, while exports are projected to grow by 57 per cent for the year at Rs 110 crore. RCG has stepped up its brand-building effort by investing Rs 4 crore this year in television commercials, print media and retail expansions. As part of integration of production, the company has already installed a 22,000-spindles spinning mills at Vagarai, near Palani in Tamil Nadu with an investment of Rs 80 crore. A woven production centre, with installed capacity of 1,000 shirts and 400 trousers, has also started production this year. Classic Polo has a presence across all but the Rs 1- lakh and above income segment of consumers as against Duke, which is the most popular casual T-shirt among the lowest income group of consumers. Lee dominates the market in the mid-income segments (Rs 25,000-Rs 1 lakh) according to a recent study conducted by KSA Technopak.
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