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Friday, 26 November 2010 |
International fashion and lifestyle brand Esprit is poised to launch EBOs all over India this year.
Madura Fashion and Lifestyle (MFL) that distributes the brand in India plans to have 10 points of sale for Esprit accessories by next year. MFL is eyeing a total turnover of Rs 100 crores this fiscal from the entire Esprit range of products, including apparel and accessories such as bags, eye wear, jewelry and watches. Esprit products are sold at 53 retail points in India, including 23 company-owned EBOs in 11 cities. Esprit will later spread to smaller cities in the next three years to be present in 30 Indian cities. At least four to five stores are expected to be opened by the end of current fiscal. The company that currently owns and operates all the existing retail points is also considering the franchise route to spread the business.
According to Madura Fashion and Lifestyle Chief Operating Officer (Esprit), Manjula Tiwari they are planning to roll out a new format, exclusively for Esprit accessories. In the beginning of next fiscal the company will set up small mono brand stores, counters and shop-in-shops only to sell accessories. To begin with about 10 points of sale will be opened next year.
Esprit is an international youth lifestyle brand that offers 12 product lines encompassing women’s wear, men’s wear and kid’s wear globally. They hope to cross a turnover (at retail value) of Rs 100 crores. Esprit’s focus on accessories as a segment has gone up as it offers huge opportunity. The segment includes products such as bags, eye wear, jewelry and watches that contribute about 10 per cent to the total turnover currently. |
