The Hindu Business Line : LMG Brands mulls sourcing from India

New Delhi, Feb. 26 LMG Brands, a part of the $2-billion Dubai-based Landmark Group, is adopting a wait and watch policy on outsourcing its products from India even as it is firming up its retail presence in the country. The LMG range includes luxury apparels such as Kappa, Bossini, VNC and Springfield. New brands would be brought in to keep up with the demand both in the apparel and footwear segments.

“We want to first study the market closely before we take a decision on outsourcing completely. Currently, some of our brands are sourced from India, though a large chunk is still imported from various global units,” Mr Johnny John, President, LMG Brands, told Business Line.

The company, which introduced its third outlet for Springfield, a Spanish fashion brand in India, said it is targeting 11 stores by 2009 for this brand alone.

It has eight points of sales across the country which will be scaled up to 25 by next year.

“Our range will comprise both casual and formal line with distinctive European tinge. It is an attitudinal brand and will cater to both men and women,” Mr John said adding that the stores in India will have a look and format akin to their international counterparts.

The company hopes that the LMG Brands alone will contribute about Rs 300 crore to the turnover.

At present, LMG Brands has a footprint that spans across West Asia and Asia. The price range starts from Rs 800 onwards.

For its footwear segment, the LMG Brands has entered into a licensing agreement with Josef Seibel Schuhfabrik GmbH, a German comfort shoe manufacturer, to market the company’s footwear brand Josef Seibel in India.

The Josef Seibel brand, known worldwide as ‘the European comfort shoe’, comprises a wide range of both men’s and women’s shoes, clogs, sandals and boots.

The brand would be available across department stores, high-end multi-brand outlets as well as at brand stores.

The group is also looking to launch the large size retail format, which it will cater to.

More Stories on : Brands | Readymade Garments | Outsourcing

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