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Purvita Chatterjee

Mumbai, May 12 Completing a year in the Indian market, Lee Cooper is now targeting the value segment with a new sub-brand — Famous Basics by Lee Cooper. Pitting its new brand against the existing multinational denim brands such as Signature from Levi’s and Hero from Wrangler, Lee Cooper is pegging its ‘economy’ brand in the Rs 599- Rs 1,299 price band.

According to Mr Ameet Panchal, Chief Executive Officer, Lee Cooper, “There would be a new distribution set-up created for the value brand and its pricing would be along the same lines as the existing value-based denim brands in the market.” With a different retailing strategy for its new brand, Lee Cooper is currently evaluating having separate outlets to vend its brand.

Meanwhile, Lee Cooper is planning to make India a sourcing hub as well. “Down the line we expect India to emerge as the sourcing hub for the European and Asia Pacific markets,” says Mr Panchal. Having forged an equal joint venture with the Future Group, Lee Cooper currently sub-contracts its manufacturing and uses the Future Group’s companies for logistical support.

Currently, the Lee Cooper brand has its presence in 70 countries and sources from several countries across the world. With India emerging as its latest sourcing hub, the UK-based brand is increasing its focus on its operations here. “India is going to be (in) the top four markets for Lee Cooper in the next two years,” adds Mr Panchal. Lee Cooper would be investing Rs 25-30 crore for an additional 24 stores, from the current 30 exclusive stores.

Besides, it would also enhance its presence from the 200 multi-brand stores and 50 shop-in-shop formats that already exist. “There would a mix of both company-owned and franchise stores and we plan to have at least 600 points of sale in the next twelve months,” says Mr Panchal.

Meanwhile, the denim brand is celebrating its centenary year and has lined up promotions for the Indian market. It has tied up with the Backpackers Co to engage its consumers by creating an opportunity whereby they can see Europe with the Lee Cooper Backpacking Expedition, through a contest. Other promotions include a tie-up with the Red Diamond and the Red Cross for a consumer-led offer.

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Lee Cooper to enter value segment in India

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