KOLKATA: Aditya Birla Fashion and Retail Ltd has forayed into the Rs 16,000 crore women innerwear and athleisure market under its Van Heusen brand with plans to open 400 exclusive stores over the next 3-4 years, said CEO for innerwear business Puneet Kumar Malik.

Two years ago, the company had forayed into the men innerwear segment under Van Heusen brand and has 15 exclusive stores as of now. “These stores will also sell the women innerwear products now. We plan to expand the network to 35-40 by this fiscal end and take it up to 400 stores. Most of these outlets will be setup on the franchisee route,” said Malik.

That part, Aditya Birla has a reach of 9,000-odd multi-brand stores for the men range which will be tapped for the women segment too since 80% of these outlets sell both the segments. “We plan to take the distribution network to 13,000 outlets by end of the year and to 30,000 outlets in four years,” said Malik.

Malik said the company undertook an extensive study to identify pain points and preferences for inner wear amongst 3,000-odd women which has been incorporated into the product designing and manufacturing. The company will manufacture the women range in India and Sri Lanka.

Aditya Birla will also start selling the women innerwear range online in e-commerce marketplaces from October while it will also set up its own online brand store from November. Van Heusen is the second largest brand in the company’s stable after Louis Philippe.

READ  Meerut's sports goods industry turns its focus on athletics, other niche areas

The women innerwear market is valued at Rs 16,000 crore of which about Rs 3,000 crore is organised while for men’s segment around Rs 7,000 crore is organised of the Rs 9,000 crore total innerwear market. The men segment is growing at 10% while the women segment is growing at 18% with fast transition to the organised segment.





READ SOURCE

WHAT YOUR THOUGHTS

Please enter your comment!
Please enter your name here