Allen Solly, the work casual menswear brand from Aditya Birla Nuvo’s Madura Fashion and Lifestyle, is looking to increase its revenues for the brand, from around Rs 500 crore last year to around Rs 1,000 crore in the near future.
The brand, which unveiled a new identity, new logo and a new style of retail outlets for the brand, is also planning to launch around 25-30 exclusive retail outlets each in next three years.
The brand, which has clocked in a revenue of Rs 500 crore in retail last fiscal year, is expecting a compounded annual growth rate of around 25 per cent in the next 2-3 years and plans to close at around Rs 900-1,000 crore in retail price in next two to three years.
It is currently in the process of revamping a large number of its existing brand showrooms to add the new logo and identity, to attract the youth into the showrooms.
“We have even changed the look of our cash counters, which would look differently from normal cash counters, giving a different buying experience for customers,” said Sooraj Bhat, brand head for Allen Solly, Madura Fashion and Lifestyle.
With around 140 stores at present, it has also plans to launch around 25 outlets in the current fiscal. Plans are to invest around Rs 10 crore in retail expansion in the current fiscal. “We will be setting up an average of 25-30 stores every year, for the next two to three years. There is no focus on any particular geography, for expansion,” he added.
The expansion would be across the major and smaller cities, malls and high streets, since the brand expects to attract youth from various parts of the country.
It is presently preparing to start its autumn-winger campaign, with season specific apparels. Plans are afoot to also launch a ‘Trenim’ wear, which is a “trouser meeting denim”, according to Bhat. The apparel, which would be a trouser with the fit and feel of jeans wear. This is expected to attract the youth who like the comfort of jeans, but wear trousers to work, he added.
The brand is placed in a price range of Rs 1,500-2,500 and would remain in this segment, he added.