Peter England targets Rs 1,000 cr turnover

Peter England Fashion and Retail (PEFR), a mid-priced apparel division of Aditya Birla Nuvo, has set a target of Rs1,000 crore turnover (on consumer purchase) in the next three years. For the financial year 2011, it is aiming at Rs 500 crore from the Rs 400 crore (on consumer purchase) turnover achieved last year.

“Peter England, Indian’s largest men’s wear brand in volume, sells six million garments every year,” Kedar Apshankar, chief operating officer, PEFR, said addressing the media here.

The company is also planning to launch multiple accessories for men. “It’s in a premature stage. We are doing market research for 50 accessory products, and hopefully launch five categories in six months,” he said. It recently forayed into denims and a line of club wear, called Peter England Party.

The brand has roped in Telugu actor Siddharth as its brand ambassador and would launch its new television commercial in a week. After a gap of six years, it is returning to television advertising, he said.

“We would launch new products and designs, mainly catering to the youth below the age of 25,” he added.

Peter England has over 400 exclusive outlets and 2,000 multi-brand outlets, spanning 650 towns across India. The company is planning to add 150 stores in all formats every year in the coming three years.

It spends 10 per cent of its turnover on marketing, advertising and sales promotion.