Financial Daily from THE HINDU group of publications
Friday, Aug 05, 2005
Financial Daily from THE HINDU group of publications Friday, Aug 05, 2005 |
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Marketing
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New Products & Services Corporate - Diversification JCB forays into apparels market Our Bureau
New Delhi , Aug. 4 CONSTRUCTION equipment manufacturer JCB India today announced its entry into the apparel business with the launch of its first clothing line endorsed by Formula-1 driver Narain Karthikeyan. "This is not only a brand building exercise ... we would be focusing on growing our apparel business," JCB India Managing Director and CEO, Mr Onkar Singh Sunar, said at a press conference here today. He said the new apparel range, mainly sporty casuals, would be available in 80 cities at over 400 outlets during this fiscal. The prices are upwards of Rs 399. "We have plans to distribute through retail outlets, including branded ones like Shoppers' Stop. We also plan to introduce branded shoes and accessories," Mr Sunar said. Incidentally, JCB's competitor in the construction equipment sector, Caterpillar, has also launched its brand of apparel and boots. JCB India will source its apparel from Switcher Quality Textiles India, which will also market them. Mr Sunar said Karthikeyan will endorse all the company's products, including the newly launched apparel line. Karthikeyan is scheduled to visit JCB India's factories in India; he has having already visited the JCB headquarters in England, where he met with the company Chairman, Sir Anthony Bamford.
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