Business Daily from THE HINDU group of publications
Saturday, Oct 20, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Saturday, Oct 20, 2007 ePaper | Mobile/PDA Version |
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Marketing
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Outlook Web Extras - Readymade Garments Espirit sees potential in kidswear, lingerie segments Our Bureau Bangalore, Oct. 19 Esprit is upbeat about making a mark in the kidswear and lingerie markets in India by addressing the gaps in these segments. The company, which has a partnership with Madura Garments, recently launched kidswear in exclusive Esprit boutiques in Bangalore and Mumbai. It will soon launch the bodywear line in Delhi. Esprit plans to take these two lines to more of its stores — in the metros to start with and followed by other upmarket cities in the country. “The target this financial year is to take both bodywear and kidswear to at least 8 Esprit stores, especially the larger stores. Next year, we are looking at 20 doors,” says Ms Manjula Tiwari, Brand Head. Gaps in the kidswear market in India prompted Esprit to launch its kidswear range here. Ms Tiwari said, “About 90 per cent the kidswear market (which is worth Rs 13,000 crore) is in the unorganised sector. Most of the organised market is through private labels. And kids clothing in India is too dressy suited for certain occasions, and mostly made of synthetic materials. There is a need for clothing made out of natural fabrics, with an international smart casual look and quality, which Esprit will address. In the casual kidswear segment, there are very few branded players in India.” The lingerie market in India too, presents a similar story - lack of quality products, options in terms of sizes, shapes and fits and an international shopping experience, adds Ms Tiwari. Esprit is also looking to complete the women’s offerings in the country with lingerie and bodywear.
Esprit’s kidswear is for children aged 3-10 years, in the price range of Rs 400-1,200. The bodywear for women will be priced between Rs 600 and Rs 2,500. Globally, kidswear contributes about 7 per cent of Esprit’s $4 billion sales. Bodywear accounts for 4-5 per cent. Esprit has 16 exclusive stores and 12 shop-in-shops in the country today. It is looking to have 20 exclusive stores and 15 shop-in-shops by the end of 2007-08. “We are looking at over 60 doors by 2008-09,” says Ms Tiwari. Going ahead, Esprit plans to set up mega stores with an area of 10,000-15,000 sq. feet. Currently, Esprit boutiques are sized between 5,000 and 8,000 sq ft. “We are also looking to bring in more products from the international range - accessories, footwear, babywear and men’s bodywear,” says Ms Tiwari. Esprit India looks to finish the current financial year with a turnover of Rs 75 crore. More Stories on : Outlook | Readymade Garments | Children & Parenting
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