The premium readymade brands Louis Philippe and Van Heusen (under Madura Fashion and Lifestyle of Aditya Birla Nuvo Ltd) is targeting a sales turnover of Rs 1,700 crore in the current year.

Both these brands are also planning a major foray into tier 2 and tier 3 towns aiming to achieve a growth rate of 30 per cent in the current year. The brands are also looking at large formats stores of 4,500 sq ft. As many as 40 stores will be opened in the country in the current year, and of this, 20-25 will be large format, Mr Jacob John, Brand Head, Louis Philippe and Mr Ajay Ramachandran, Brand Head, Van Heusen told reporters.

They pointed out that the market for branded apparels in the organised sector in the country is estimated between Rs 13,000-Rs 14,000 crore, of which both the brands have 7-8 per cent market share. Mr John and Mr Ramachandran were in Kochi for the opening of their exclusive large format stores in Kottayam.

According to Mr John, Louis Philippe, which used to cater to the age group above 30, now has a wide range of choices for the youth as well. This has helped in the aggressive growth of the brand, which is present in 100 exclusive stores in the country besides in multi-brand outlets.

He said the growth is coming from smaller towns like Jaipur, Thrissur, Patna, Dehradun, among others. In Kerala, it has opened a store in Kottayam and two more are in the pipeline in Kollam and Thiruvananthapuram.

The rising input cost had an impact on the retail prices of the brands, they said. The rise in cotton prices has increased the fabric costs by 30 to 40 per cent last year. The company was forced to pass it on to consumers, he said.

Mr Ramachandran said that the strategy is to come closer to consumers and the newly-opened store at Kottayam will house merchandise for not only men but also women for the first time in the city.

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