Madura Garments is all set to launch the international youth lifestyle apparel brand Esprit by next month. For Madura Garments, better known for its formal range of apparel, this will be its first serious attempt to get into this segment.
Madura Garments, with this launch is expected to play in the premium casual wear market, with emphasis on women’s wear where Esprit is traditionally known for.
Madura Garments, which has market-leading brands like Van Heusen, Louis Philipe, Allen Solly and Peter England is expected to debut this lifestyle brand on September 7 to coincide with Ganesh Chathurthi, considered an auspicious day.
A senior official of the company offered not to comment and said they will be able to share details about Esprit in the near future. Madura Garments with this licensing agreement with Esprit will be up against Arvind Garments which recently brought in iconic Tommy Hilfiger brand in the same youth lifestyle segment. It will be interesting to see how the competition pans out even as there are reports of Tommy Hilfiger brand being put on the block.
In addition to this foray, Madura Garments may also bring in the Armani brand to plug the gap in the super-premium branded apparel market, which will enable it to be a complete lifestyle marketer.
Madura Garments, a unit of Indian Rayon of the Aditya Birla Group, besides launching new brands, is expanding the product breadth under its main brands, extending its retail reach as part of its efforts to have Rs 100 crore brands under its portfolio.
In the recent past, Madura Garments aggressively expanded its product offerings to include semi-formals, suits, knit wear, women’s wear and accessories and leather items.
“Over the next few months, we expect Madura to complete its wardrobe offerings by extending the range of its brands including women’s ethnic clothes, among others,” the analyst noted.
Meanwhile, Madura Garments is understood to be stepping up its presence in its captive retail reach by expanding the number of its exclusive stores.
The company is targetting 40 per cent of its revenues from its exclusive stores from the present 20 per cent.
“We understand that nearly 50,000 sq feet of retail space have been tied up to its existing base of 2,00,000 sq feet,” the analyst noted.