Madura Garment?s flagship brand Peter England has lined up a slew of marketing strategies to garner a Rs 500 crore sales turnover in the current financial year. The textile retailer is also mulling to foray into the kids segment in near future. The company, after a gap of seven years, will revive its televison commericals (TVC) in a bid to increase its market share to 30% as against 20% now.
Kedar Apshankar, chief operating officer, Peter England said, ?We will be coming up with TVCs after a gap of seven years. Typically we will be spending around 9-10% of our revenue on advetisement spend, out of which 50% will be for the new TVCs.? Last fiscal Peter England had clocked Rs 400 crore turnover.
“We will be soon entering into kids’ segment with a slew of products,? he added.
Peter England’s new initiative would be based on three major areas such as product level, retail level and marketing plans. The company would be launching new products and accessories which include denims and traditional attires.
The insight about new prodcucts had been formalised based on a 18 month long cosumer survey that the brand engaged to understand the dressing habits of customers. ?We will be opening 150 more stores per year in the next three years and after three years down the line we will have 1,000 stores across India,? he said.