Financial Daily from THE HINDU group of publications
Saturday, Mar 16, 2002
Financial Daily from THE HINDU group of publications Saturday, Mar 16, 2002 |
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Marketing
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Brands Allen Solly on verge of being Rs 100-cr brand -- Womenswear set for national roll-out Boby Kurian
BANGALORE, March 15 CLOSE on the heels of the Louis Philippe and Peter England brands, the retail sales of Allen Solly, the relaxed workwear brand from Madura Garments, may also touch Rs 100 crore in the current financial year. Allen Solly's compounded annual growth rate over the last three years has been pegged at 35 per cent, the highest for any Madura brand, and probably the fastest in the domestic apparel industry. Almost six per cent of the brand's revenues flow from exports, which is tipped to soar in the near future. It must be mentioned that Allen Solly's sales will make it the third brand from the stable of Madura Garments, after Louis Philippe and Peter England, to rake in revenues of Rs 100 crore and above. At present, Allen Solly is being retailed through 350-odd premium outlets in the country and approximately 50 stores in overseas markets. Madura Garments, which closed last financial year with Rs 325 crore, is expected to exit March 31, 2002, with a turnover in the region of Rs 430 to Rs 450 crore. Madura's brand portfolio also includes Van Heusen, San Frisco and Byford. Speaking to Business Line, Mr Sailesh Chaturvedi, General Manager (Marketing), Madura Garments, said, Allen Solly's revenues were poised for a bullish growth on account of its recent foray into womenswear and new additions to the menswear collection. The womenswear range, which was launched in Bangalore on December 15, is poised for a national roll-out. Research on the Allen Solly Womenswear brand by the company had shown that 26 per cent of the initial customers made a second purchase within the first 45 days. Allen Solly entered the Indian market in 1993 and developed its equity as a relaxed workwear brand, symbolised by shirts in deep solids that go well with light coloured trousers. In the current summer season, the brand is gearing up for a different imagery conveyed through bright, bold checks and floral designs. The new collection, called `Hawaiian Conference', includes shirts, T-shirts and bermudas in blended oranges, yellows, greens and blues. "The collection captures the free spirit of Hawaii with the use of bright flowers, clear blue skies, beaches of white sand and images of the crimson sun setting across the ocean," Mr Chaturvedi said. It will be supported by a print media campaign,which works around the theme `Cures workaholism'. The brand has also launched a new range of extra light, pure cotton wrinkle-free trousers available in light, muted and summer colours. These trousers, made from special yarns, are 30 per cent lighter than conventional cotton trousers, making it comfortable for summer wear, Mr Chaturvedi said.
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