In order to support its two-brand readywear strategy, Siyaram is also contemplating setting up a new franchised network of exclusive showrooms Oxemberg Saloons across metros. The company plans to set up six Saloons each in Mumbai and Delhi and four in Pune this fiscal.
Vijaylakshmi A Poddar, director, Siyaram Silk Mills
Says Ms Vijaylakshmi A Poddar, director, Siyaram Silk Mills Ltd: We aim to make Oxemberg a Rs 100-crore brand in the next three years. Adds Mr Asheesh Chaddha, brand manager, Oxemberg: We are now shifting our focus from B and C towns to metros and mini-metros. Also, as part of a brand revamp, weve shifted Oxembergs creative account from Percept to Lemon (a division of Euro RSCG).
Oxembergits a strategic business unit (SBU) within Siyaram Silk Mills is expecting a turnover of Rs 50 crore from domestic sales and another Rs 15 crore-Rs 20 crore from exports in 2002-03. In 2001-02, Oxemberg is said to have posted a domestic turnover of Rs 32 crore (retail turnover: Rs 65 crore) and exports of Rs 10 crore (from markets like UK, Switzerland, Germany and the Middle East),
Oxemberg is expected to finalise its positioning strategy in a week. The 10-year old brand was earlier sold on the plank of The Right Fashion, which conveyed brand values like right attitude, right style, and right price for its menswear like formals, casuals and denims.
The company is planning to put semi-formals and casuals under the new brand Integrals. The Oxemberg brand is expected to focus on formal shirts and trousers.
Integrals is expected to be put in the price bracket of Rs 699-Rs 1,299 for casual topwear and Rs 699-Rs 1,000 for chinos. Currently, Oxembergs pricing is Rs 599-Rs 1199 for formal trousers and Rs 499-Rs 899 for formal shirts).
Oxemberg is also working with its new agency Lemon to formulate retail-brand strategy (in terms of signage, background colour co-ordination) for Oxemberg Saloons. Besides exclusive channel, Oxemberg is also keenly looking at big departmental stores like Shoppers Stop and Globus.
Oxemberg Saloons are expected to complement the companys existing exclusive chain of 15 Oxemberg showrooms in Class B and C towns; and 1,500 dealers. So far, the company has been focused on the markets of Kerala, Andhra Pradesh, Karnataka, Gujarat and Maharashtra.
Oxemberg has also started discussions with US-based companies for exports. Says Ms Poddar: We want to be ready with our plans once the quota is dismantled in the US in 2005. (Currently, only companies with quotas can export to the US). Weve already started showing our export-oriented facilities to American parties.
Oxemberg is also looking at enhancing capacities from 1 lakh readymade pieces a year to 1.25 lakh through skill-intensive and productivity-maximisation drive.