Financial Daily from THE HINDU group of publications
Friday, Jan 27, 2006
Financial Daily from THE HINDU group of publications Friday, Jan 27, 2006 |
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Marketing
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New Products & Services Stori launches knitwear, eyes women's wear Anjali Prayag
Bangalore , Jan. 26 STORI, the Bangalore-based apparel brand will foray into women's wear next year. The brand, which claims a 10-per cent share of the Rs 250-crore men's corporate casual wear market, is hoping to repeat the success story in the women's apparel market. "Before that, we're launching our knits for summer," Mr Chandra Prakash Bhutra, Marketing Manager, Chaya Garments Pvt Ltd, told Business Line. He also said knits are expected to contribute about 20 per cent to the company's turnover this year. CGPL, which started as a fabric trading house in the early 1980s, today has eight exclusive stores and a presence in over 100 MBOs (multi-brand outlets) across the country. Stori is the company's flagship brand for men falling into three categories: business casual, casual and partywear. Made from natural fibres such as cotton, linen and silk, Stori garments are priced between Rs 1,000 and Rs 2,500. Growth plans for the year include increasing the exclusive outlets to 20 and doubling its presence in MBOs to 200. "We are also working towards cornering a 18-20 per cent share of the branded corporate casual wear market by March 2007," Mr Bhutra said.
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