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Casual workwear brand Allen Solly does not believe in offering huge end-of-season discounts.
Referring to the ‘flat 50-70 per cent’ discounts offered by several brands, Mr Sooraj Bhat, Brand Head, Allen Solly, says the incidence is high in the case of international and casual wear brands that do not have a mechanism to clear old stocks except through their exclusive brand outlets.
“It is due to operational issues or maybe one season the brand did not perform too well. Or, high-priced brands try to make themselves more affordable for a different consumer segment. That the market is not going to be ebullient is obvious, but this is not a model for us.”
Allen Solly, which is from the Madura Fashion and Lifestyle stable, says it has alternative channels to clear old stock — discount stores and factory outlets, which account for 10 per cent of the brand’s total sales. This year, brands have begun the end-of-season sale a week earlier than before. Allen Solly is also on sale but is only offering discounts ranging from 15 to 30 per cent, and 40 per cent on a few items, says Mr Bhat.
“It is not as if mistakes do not happen with us, but our brand is large enough to weather the current storm,” says Mr Bhat.
The brand registered a compounded annual growth rate of 35 per cent for the last three years. It expects less than 25 per cent in the next three years.
In the most recent quarter, Allen Solly’s stores recorded a like-to-like growth of 10 per cent over the previous year.
New brand
Allen Solly has unveiled a new brand identity with a new logo and store experience. “This identity draws from our British heritage while maintaining a contemporary look,” says Mr Bhat.
Allen Solly was a Nottingham-based brand that Madura Coats acquired. Today, the Solly brand is present in India, West Asia and SAARC. It clocked a retail turnover of Rs 500 crore last year.
To add ‘Trenims’ range in Oct
Allen Solly is to unveil a new range this October: Trenims or trousers with denim fit and style.
“Consumer insight showed us that young men like low-waist slim-fit jeans. So used they are to this fit, they find the cotton trousers too roomy and mid-waisted,” says Mr Sooraj Bhat, Brand Head.
Allen Solly will launch low-waist cotton trousers with a sharper and slimmer fit. The Trenims range will be priced between Rs 1,799 and Rs 1,899.
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