The Hindu Business Line : Lee Cooper banks on Future Group for logistics, media buying

Mumbai April 27 Having forged a 50:50 joint venture with the Future Group, Lee Cooper India is planning to tap into the resources of the former for strengthening its retail foray in the country.

Apart from gaining retail space at Future Group's Pantaloon and Central stores, the denim brand expects to gain from areas such as logistics and media to make its mark in the Indian market.

Speaking to Business Line, Mr Ameet Panchal, CEO, Lee Cooper India, said, "We intend leveraging areas such as media buying and logistics apart from retail space to get economies of scale into our business.''

Future Logistics, the new company of the Future Group in the area of supply chain management, is expected to assist while Starcom (the media buying agency of the Future Group) would help in striking cheaper media deals for the denim brand.

Besides, Lee Cooper is also hoping to get economies of scale from the vendors dealing with the Future group for its retailing business.

Explains Mr Panchal, "Fashion is a perishable business and the faster your deliver the goods the greater the sales. We would be investing heavily behind logistics and expect Future Logistics to aid in the movement of the goods.''

Saving costs

In the area of media buying as well, Lee Cooper expects to get `discounted' deals thereby saving its media costs. As Mr Panchal says, "We expect to get more value for money for media and would be working together with Starcom, the Future Group's media agency.''

Retailing the Lee Cooper brand through Pantaloon's top 20 stores across the country, the English denim brand plans to grow in sync with the Future Group's expansion plans. "The Future Group's mall business would also help us grow quickly since we are here to create a strong retail footprint in the country.''

Lee Cooper, which was a licensee brand earlier, expects to expand its retail presence with the Future Group's businesses in malls. In fact, at the malls Lee Cooper intends launching more of its independent stores and has earmarked a total of 60 stores this year.

New areas

Besides, Lee Cooper is expected to expand into new areas such as inner wear, eyewear, sun-glasses and accessories in the future. The premium denim brand expects to segment the market even further with a super premium range under the Platinum line. "We expect to register a turnover of Rs 100 crore and also turn profitable by next year,'' expects Mr Panchal.

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