French fashion major Lacoste is tweaking its retail presence in India to tap better into core markets - the metros. Over the years, it has shifted to large format outlets (2,500 sq. feet) in Delhi, Mumbai, Bangalore, Hyderabad, Kolkata and Chennai, from outlets of around 1,500 square feet. In the other eight cities, outlet sizes have moved up from around 800 sq. feet to 1,500 sq. feet.
Brand presence
The brand is present in India through 32 points of sale, of which 27 are exclusive stores and the rest MBOs (multi-brand outlets). Six of the 32 outlets are franchised and the rest fully owned.
“There was cost involved, given the rentals and availability constraints of premium space. Lacoste's brand parameters are global and the move to larger outlets is in tune with that,” said Mr Rajesh Jain, Director and CEO, Lacoste India (Sports and Leisure Apparel Ltd).
The bulk sales are from Delhi and Mumbai and those will be priority markets for more outlets. The company claims to be growing at 45-50 per cent annually. Also factored into retail expansion is the brand's mandate to maintain exclusivity, even as it senses the tier-II opportunity.
Croc Goes L!ve
L!ve, a second brand under Lacoste, was launched globally in February. The first outlet in India opened in New Delhi's Select Walk Mall in end-July. Lacoste India sells apparel, footwear and bags under L!ve.
“L!ve targets a slightly more young-minded audience – it is different from Lacoste and will also be retailed exclusively. The stores will be of smaller formats (800 sq. feet) but without typical shelf spaces. We will look at Mumbai, and perhaps Bangalore, for the next L!ve outlets,” said Mr Jain.