As a part of it retail expansion plans and branding
initiatives, Madura Fashion & Lifestyle’s premium menswear brand Louis Philippe is planning large format flagship stores, almost four times bigger than the existing ones in metros across the county. A division of Aditya Birla Nuvo, the company has already come up with a new 10,000 sq. ft. store in Chennai. The company is looking at launching 6-8 such flagship stores in the next fiscal at crucial locations such as metros that will enhance the brand’s positioning among customers. The average size of an existing Louis Philippe store is between 2,500 sq. ft. to 3,000 sq. ft. but the new flagship outlets will be spread across around 10,000 sq. ft. area. Besides the large format stores the company that currently have over 100 stores across India.
Meanwhile, it is also targeting the footwear business. The company plans to launch 30 exclusive footwear outlets across India in the next three years after the success of its first outlet in Pune. It has been operations for the past four months. By focusing on the footwear segment, the company expects take up the share of accessories to 10 per cent of the total turnover from next year onwards. Along with footwear stores, it also plans to open 30-40 apparel stores in 2012-13 at an investment of Rs 20 crores. The new apparel as well as footwear stores will be a mix of company-owned showroom as well as franchisee outlets.
For the year ending March 2012, Louis Philippe is targeting revenues of around Rs 900 crores at retail prices. Louis Philippe has been undertaking new branding initiatives and has recently associated itself with golf. Inspired by the success of league-based tournaments featuring city centric teams, the brand has launched Louis Philippe Cup for golf in partnership with Professional Golf Tour of India (PGTI) and Rishi Narain Golf Management. Louis Philippe the core brand of Madura Fashion & Lifestyle is expected to contribute over 60 per cent of the company’s turnover at Rs 570 crores in 2011-12 followed by 33 per cent from LP sub-brand at an estimated Rs 300 crores while the high-end Luxure sub-brand is expected to fetch Rs 25 crores this year.