Gas eyes Rs 200cr sales by 2011

Italian premium apparel brand Gas, the 50:50 joint venture company between Grotto and Raymond, is looking at a turnover of Rs 200 crore from India by 2011, on the back of more Indian tailor-made productline and pricing strategy, retail expansion, as well as introduction of more product categories in India from its global portfolio.

Globally, Gas sales topped Euro 150 million last year.

The company will invest Rs 50 crore till 2010 on its retail expansion, marketing and brand building in India.

Speaking at a press conference in Kolkata, Zohair Officewala, director - business development of Raymond, said, "We are exploring the possibility of launching basic products under Gas to tap the low-end mass apparel segment and at introducing in India ranges that include innerwear, beachwear and juniorwear sometime next year."

Currently, its sells denim wear as also accessories and footwear coordinated with seasonal collections. Gas may do local production outsourcing for sub-Rs1,000 range. Currently, it is importing its entire range from Italy with its denim wear priced between Rs 1,800 and Rs 6,500.

"We are discussing the possibility of launching T-shirts at Rs 900 and other products for the mass segment. This, we will outsource to local designers and manufacturers, if we do not set up own manufacturing base here," Officewala said.

About 15 per cent of products could be manufactured in India and be simultaneously available globally. Gas would add four more company-owned outlets from six now along with seven more franchise stores this year from one at present in Mumbai. The retail expansion would cover Mumbai, Delhi, Kolkata, Bangalore and Pune with a few tier II cities.

Gas stores, usually between 1,500-4,000 sq.ft, cost around Rs 3,000 per sq.ft..