Menswear brand Louis Philippe is planning to grow aggressively through large format stores during the next fiscal.
The rationale behind this is to strengthen Louis Philippe as a lifestyle brand rather than just an apparel brand, said Mr Jacob John, Brand Head, Louis Philippe, Madura Fashion and Lifestyle. “Our business growth will come from lifestyle requirements of consumers and not just from apparel requirements,” he added.
The large format store at about 5,000 sq ft would house the mother brand Louis Philippe, sub-brands LP and Luxure and all accessories of the brands like ties, belts, socks and footwear. The company plans to open about 15 large stores across the country next fiscal.
The premium menswear brand from Madura Lifestyle & Fashion launched its footwear range last year to complement the attire needs of men.
“Now we want to be a serious player in this category and are even thinking of expanding through standalone stores for footwear,” Mr John said.
Footwear contributed about Rs 25 crore to the brand's revenues (at retail prices) which is around Rs 650 crore this year. The footwear range includes offerings in all three brands: Louis Philippe, LP (casual) and Luxure (luxury).
The company is planning to start 20 exclusive outlets for footwear in the next three years. By the end of the current fiscal, Madura Fashion & Lifestyle would have 120 stores and close with revenues (at retail prices) of Rs 900 crore.
This year, the brand also launched the Louis Philippe Cup for Golf in partnership with the PGTI (Professional Golf Tour of India).
“The idea is premium-isation (sic) of the brand and we felt this was the best association for the brand,” Mr John said.