Kolkata-based hosiery maker Lux Industries will strengthen its brand in India through its premium productline and by entering newer markets.
The company will launch premium active wear and lounge wear for men next month under its brand GenX, and premium women lingerie, priced at ₹170-₹400, under the brand Lyra will hit the market in four months. Other products like track suits and sweat shirts for men will also be launched.
Recently, the company commissioned a new plant in Dankuni, West Bengal that will take the product capacity to 20 lakh pieces in the next three years from 12 lakh pieces now. The company has 12 manufacturing plants in India.
Addressing media persons here on Thursday, Rahul Todi, Senior Vice-President, said the new products are priced between ₹699 and ₹1,200 compared to multinational brands that cost upwards of ₹2,000.
The company plans to aggressively markets its products in the South, which accounts for about 11 per cent of total sales. Navin Todi, Senior Vice-President, said the company is investing ₹10 crore in modernisation of two plants in Tirupur and ₹18 crore in marketing for the next two years to take the contribution from the South to 20 per cent. “With three metros in the South, the potential is huge,” he added.