According to Mr M Vasanth Kumar, vice-president (marketing), Madura Garments: As a part of the retail strategy, the company plans to have both exclusive Allen Solly womens wear outlets in existing markets where Allen Solly Mens wear showrooms do not have space and combine Allen Solly mens wear showrooms in the new markets.
The company is also looking at marketing Allen Solly womens wear garments through leading departmental stores and multi-board outlets across major cities very soon.
Informs Mr Kumar: The current size of western womens wear is Rs 600 crore, of which the premium segment is Rs 250 croregrowing at a rate of 15 to 20 per cent per annum. We expect to gain 10 per cent marketshare through the premium western womens wear (which is calculated at approximately Rs 300 per garment), by 2003-end.
Madura Garments currently has a marketshare of 30 per cent in the premium mens wear category. Says Mr Kumar:Madura Garments targets the western womens wear segment to contribute an additional five per cent to the companys overall sales turnover in the corresponding period. The company is growing at a rate of 20 per cent per annum in terms of sales turnover and is expected to grow at a similar pace even next year.
To meet the objective, says Mr Kumar: Madura Garments has also embarked on a new marketing initiative by launching Allen Solly as a Life Style brand in both the mens and womens segments in the Relaxed Formal Category.
In addition, it will foray into the suits segment targeted at the premium end of the market very soon.