IndiaRetailBiz

Madura Garments, the branded apparel division of Kumar Mangalam Birla-led Aditya Birla Nuvo, which retails branded apparel under several lifestyle and value brands like Allen Solly, Louis Phillipe (lifestyle) and Peter England (value), has crossed the major milestone in sales of Rs. 1,000 crore this year.

The annual turnover of the country’s largest branded apparel player at Rs 1,025 crore during FY 2007-08 was 24% higher than Rs 830 crore in the previous year. The growth between the segments this year was distributed almost evenly as while the growth for lifestyle brands was 28%, for the value brands it was 23%.

Having established leadership in premium segment, the company is now looking climbing the value chain by introducing international brands catering to the needs of customers in the super premium and luxury segment.

To encash on the increased spending on such products (priced higher than its current highest price point of Rs 4,000 apiece), the company will set up mens exclusive lifestyle stores initially at metro cities of Bangalore, Delhi and Mumbai. Through this initiative, it hopes to garner a turnover of Rs. 4,500 crore.

Madura Garments will also invest Rs. 1,000 crore on expanding its existing lifestyle and value brands. While, it will set up 10 to 15 mens lifestyle stores in three years at an outlay of Rs 600 crore, it will also set up 80 new Peter England Family stores in value segment entailing an investment of Rs. 400 crore in five years.

Peter England is expecting to unveil around five new stores within a couple of months, while around 10 are expected to be opened during this financial year. The brand is clooking at clocking Rs. 1,350 crore in turnover over the next five years.