Financial Daily from THE HINDU group of publications
Thursday, Nov 24, 2005
Financial Daily from THE HINDU group of publications Thursday, Nov 24, 2005 |
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Marketing
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New Products & Services Levi's enters new price segment with Signature Our Bureau
Mr John Anderson, President, Levi Strauss, Asia Pacific, and Mr Shumone Jaya Chatterjee, Managing Director, Levi Strauss India Pvt Ltd, at the launch of Levi Strauss Signature in Chennai on Wednesday. — Bijoy Ghosh
Chennai , Nov. 23 LEVI STRAUSS sees India, with its opportunity of $35 million, as a key market along with China and Russia, according to Mr John Anderson, President, Levi Strauss, Asia Pacific. He was speaking at the launch of Signature in India. Signature, priced between Rs 599 and Rs 999, is the company's brand in the standard segment. Mr A.T.P. Ramani, Business Head - Levi Strauss Signature, Levi Strauss (India) Pvt Ltd, said the standard segment was the fastest growing in the jeans category. Between 2001 and 2003, this segment grew at a compounded annual growth rate of 37 per cent; the value segment (below Rs 599) grew at 17 per cent, the premium (Rs 900-1,349) at 27 per cent and the super premium (above Rs 1,350) at 32 per cent. The overall jeans category grew at 25 per cent. The company has launched Signature as a pilot project in the South. Mr Ramani said the national rollout is to begin in mid-2006. The plan is for Signature to be sold in over 200 exclusive outlets and 1,000 multi-brand outlets 18 months hence. There will be four or five exclusive outlets in Chennai. Mr Ramani said the company is following the quasi-licensing format. Through this model, Levi Strauss India will retain control over marketing, quality and product development while production, logistics and sales will be the responsibility of the licensee. The licensees for the South are Poshak Industries, a company that belongs to the RK Industries and PS Apparels group. Mr Ramani said there would be four licensees in India. The focus would be on tier II cities, which will be the key drivers of this business.
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