| The Mumbai-based Forbes Gokak is looking at a turnover of Rs 300 crore from its retail operations in five years, according to Reetika Mehra Dalal, executive-in-charge of the company’s upmarket brands division.
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| Forbes has already entered the premium segment with its licensee agreement with the UK-based Daks Simpson, which manufactures and retails tailored garments and accessories for men and women.
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| The Forbes division is now looking at enhancing its premium offerings through similar arrangements with other international brands.
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| Dalal said the company is in talks with a British women’s wear brand and the deal is expected to materialise by the year end. The company is also in brand licensing talks with an Italian men’s wear brand.
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| “There are plans to enter the kids’ segment as well,” Dalal said. According to Dalal, Forbes is expecting a turnover of Rs 60 crore in five years from the Daks range, which is priced at upwards of Rs 975.
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| “With the signing of the licensee agreement, we can now manufacture Daks merchandise within India. This will automatically bring down the product price by at least 30 to 35 per cent since the cost of shipping and taxes will reduce considerably” she said.
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| Forbes had entered into a marketing agreement with Daks two years back and entered into a licensee agreement early this year.
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| Forbes’ retail foray also involves launching its own brand at a lower price point. Forbes, which till now was focused on exports, is now concentrating on retailing.
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| The company, which meets its manufacturing needs through a working arrangement with Gokaldas Images, owners of the Weekender brand of apparels, also plans to increase its own manufacturing infrastructure.
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| Dalal said the company will upgrade its manufacturing facilities soon. |
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