Business Daily from THE HINDU group of publications
Tuesday, Sep 04, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Sep 04, 2007 ePaper |
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Marketing
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Retailing Web Extras - Readymade Garments Oxemberg gets aggressive
Divya Trivedi Mumbai, Sept. 3 The spate of retail activities in the textile industry is making companies like the Siyarams Poddar group pay attention to the marketing of their garment brands. Oxemberg, specialising in garments, contributed Rs 64 crore to the 1,500 crore turnover of the group in the year 2006-07. “We are at the right place at the right time and want to take advantage of this opportunity,” said Mr Prasad Shetty, Vice-President of marketing for Oxemberg. The company is to roll out advertisements on television in an aggressive manner. In a scenario of low brand loyalty where every company is vying for shelf space in malls and large format stores, a company has to promote itself vigorously, or else it stands to lose out to its competitors, feels Mr Shetty. “We are present in Future Groups’ Central large format store and are in talks with In-orbit and other malls to book retail space,” he said.
Oxemberg plans to set up 100 retail outlets by end 2008 in 40 tier-II and tier-III cities of India, focussing on the market in South India. Currently, the company has 33 outlets across 10 cities in India. “The outlets will be located in malls and high street,” he added. Each outlet will entail an investment of Rs 30 lakh on lease rentals, Rs 50 lakh to Rs 1.25 crore on outright purchase deals and inventory worth Rs 10-12 lakh. The company wants to adopt the cluster approach for its outlets and will roll out standalone stores wherever viable, said Mr Shetty. The Rs 65-crore brand is looking at revenues of up to Rs 100 crore post-expansion.
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