Lakshmi Mills to foray into branded wear

Coimbatore-based Lakshmi Mills Company Ltd (LMC) is all set to foray into the branded wear segment by launching its new brand of western casual wear 'Tyche Life' in the domestic market by the end of September this year.

"Tyche Life, a casual wear brand for men, women and kids, is aimed at the premium segment of the market and is made from the super soft 'Modal' fibre blended with cotton," S Pathy, managing director of LMC, said.

The company has tied up with Austria-based speciality fibre major, Lenzing Fibers, with which LMC has been associated for more than two years.

"The emphasis is on comfort fashion. Hence, we have chosen the 'modal' fibre, which can be blended with cotton to cut down the cost and produce better quality fabrics," he said.

The garments were tested at Lenzing's testing laboratory in Hong Kong and were given Swing tags, the quality approval sign, which would enable us to enter the European market," he added.

Tyche Life would initially be sold in the domestic market. Later, the product would be exported to the European markets where there is a good demand for speciality fibres.

A company source told Business Standard that initially, LMC would roll out its products in the southern market through a network of dealers or retailers. Later, the company would set up exclusive brand outlets (EBOs) across all the metros and tier II cities.