Business Daily from THE HINDU group of publications
Saturday, Mar 22, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Saturday, Mar 22, 2008 ePaper | Mobile/PDA Version |
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Marketing
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Brands Web Extras - Readymade Garments Esprit to step up retail presence Divya Trivedi Mumbai, March 21 Madura Garments apparel brand Esprit plans to double its turnover every year for the next three years, said Ms Manjula Tiwari, Chief Operating Officer, Esprit Madura Garments. The excess turnover will result from the addition of nearly a 100 plus exclusive stores in the next three years, said Ms Tiwari. Currently, Esprit has around 12 stores across India. “The first two years of our operations, we saw great results and so we are positive about achieving the targeted turnover,” she said. The turnover of Esprit for the financial year ending March 2008 at retail value was registered at Rs 80 crore. The Madura group turnover was around Rs 700 crore for the same period. Without mentioning percentages, she said that they contribute significantly to the topline of the Madura Garments group. Esprit in India is an all women’s lifestyle brand in segments of ready-to-wear, premium relaxed clothes and accessories.
“We are a women’s international fashion brand, operating 15,000 stores out of 45 countries. We believe in bringing style to the consumers, and not create fashion victims,” she said. Madura Garments is a division of the Aditya Birla Nuvo Group and has Allen Solly, Louis Phillip, Van Huesen, Peter England and S F Jeans under its umbrella in addition to Esprit, with whom it has a distribution partnership. The overall marketing strategy for the group has been to move from a ‘wardrobe’ brand to a ‘lifestyle’ brand. To bolster its presence significantly in the apparel retail sector, the company has started retailing its lifestyle brand and affordable brands through two new subsidiaries, Madura Garments Life Style Retail Company Ltd and Peter England Fashions and Retail Ltd. More Stories on : Brands | Readymade Garments | Gender
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