The Hindu Business Line : Prateek ties up with European brand Kanz for kids wear

New Delhi, Sept. 6 Domestic apparel manufacturer Prateek has joined hands with European brand Kanz in an attempt to tap significant market share in the estimated Rs 1,300-crore kids apparel market.

The company aims to garner about 8-10 per cent market share in the kids wear segment during the current financial year and expects it to go up to 25 per cent by 2010-11.

“The brand has been launched in the country by Prateek through a licensing arrangement with Kanz. This arrangement is expected to convert into a joint venture within six months,” said Mr Ozgur Bender, Managing Director, Kanz.

Prateek’s Managing Director Mr Pradeep Agarwal said, “Only a few international players in the kids wear segment exist in India. An international player like Kanz will bring expertise in the domestic market.” Kanz expects to achieve a turnover of $10 million by 2010 from its Indian operations.

Market size

“The size of the organised kids wear market is Rs 1,300 crore, which is 10 per cent of the total kids market worth Rs 13,500 crore in the country. We are expecting to tap 5-10 per cent of this amount,” said Mr Agarwal. “The company would invest Rs 4 crore in advertising and marketing of Kanz brand,” he added.

Prateek owns a mall in Bangalore, Coupon, and plans to add one more mall in Raipur soon and has set a target to increase it to 50 by 2010.

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