Premium menswear brand Louis Philippe from Madura Fashion
and Lifestyle of the Aditya Birla Group is looking at 40 per cent hike in sales to touch Rs 900 crores this fiscal. Their optimism triggers from aggressive retail expansion and recent foray into the footwear segment. The brand gained a 37 per cent growth last fiscal, so it is looking forward to maintaining a similar growth track. It has also tied up with Professional Golf Tour of India (PGTI) to start Louis Philippe Golf Cup in Bangalore in March next year. The plan is to expand its retail network by lunching over 20 exclusive stores this year across the country adding to the current count of 100 stores. The Rs 900 crores Louis Philippe brand has been growing overall at a rate of 50 per cent with a CAGR of 30 per cent for three years. It is present in formal and semi-formal ranges of menswear and other accessories like belts, wallets and cufflinks and is exploring opportunities in accessories such as fragrances.
Louis Philippe, introduced a range of premium footwear priced between Rs 3,000 and 7,000 under the Louis Philippe brand name at its stores last year and opened its first exclusive footwear showroom in Pune a month ago. Louis Philippe plans to invest over Rs 10 crores to open four more exclusive footwear stores by end of 2011. The footwear range was 5 per cent of the brand's overall business and the company expects to pull this up to 10 per cent over the next three years.
Like many other brands, Louis Philippe is eying smaller cities like Mangalore, Trichy and Pune in its endeavour to grow beyond metros and also to tap the potential of smaller towns. Besides, to achieve their aim of making Louis Philippe a complete lifestyle brand, it is focusing on sportswear and footwear categories to generate more revenues in future.