Madura Garments, home to brands like Louis Philippe, Van Heusen, Allen Solly, Peter England and SF Jeans, has entered into a strategic tie-up with Esprit to strengthen its brand portfolio in key segments (women’s segment/premium relaxed clothes segment/accessories) and to capture the buoyancy in premium retail business in India.
With the launch of Esprit, Madura Garments aims to upgrade the retail standard in India. “We are aiming at the key segments of womenswear, premium relaxed clothes and accessories, which will add to the flavour in premium retail business,” said Hemchandra Javeri, President, Madura Garments. “We want to provide an international shopping experience to discerning and well heeled Indian consumers,” he added.
After experiencing tremendous success in Europe, Asia Pacific and the US, Esprit Holdings Ltd sees a great future in emerging markets like China and India. It already has the No 1 rank in China among retail outlets, and has now turned its focus on India.
Thomas Grote, Group COO, Esprit, said, “Esprit is always looking for new markets for expansion. We at Esprit are very excited about this new partnership with Madura Garments.” Stating the company’s focus was on product quality and price/performance ratio, Grote further explained, “We live up to our customers’ expectations by providing truly international retailing standards.”
All merchandise planning, store design, retail operations and customer service policies are as per Esprit Global Systems with 100 per cent of the merchandise being imported into India. Efforts are being made to provide the same global shopping experience to all customers of the brand in India with respect to merchandise and retail ambience.
The brand has achieved a turnover of $2.7 million in 2004-05 (excluding the licensee business) and aims for a 20-25 per cent growth next year. Esprit has already opened a store each in Bangalore and Mumbai. It plans to have one more store in Mumbai and one in Delhi within a month’s time. It plans to add 10 more stores in a year’s time.
Esprit will follow its international communication strategy and focus more on print and outdoor as well as below-the-line.