Madura Garments, the garment lifestyle retail division of the Aditya Birla Group is going to open high-end luxury stores, branded as 'The Collective', next year in three new cities, and will also undergo expansion in existing locations.
At present there are two stores of the firm in Mumbai and Bangalore, through which it sells high-end luxury apparel and accessories from brands around the globe under 'The Collective' banner. It is all set to open its third store in Delhi soon and will find opportunities in other cities like Chennai, Chandigarh and Hyderabad by next year.
The company also intends to launch more stores in Mumbai and Delhi. Talks are on with real estate developers with regards to the same. Next year, the company is expected to invest around Rs 400 million. A single store entails about Rs80 million of investment.
The luxury retail market is thriving in the country and strong economic indicators offer significant growth to the sector. The existing two stores of the company have already touched a break-even point, in spite of economic meltdown during past two years.
The store in Bangalore, established in October 2008, witnessed a 35 percent improvement in its turnover and the Mumbai store that was launched last year is showing strong growth. These stores showcase products from international brands, including, Armani Collezioni, Adriano Goldschmeid, Duchamp, Fred Perry, Hackett, Hugo Boss, Kenneth Cole, Ted Baker, True Religion and Versace Collection in the range of Rs 2,500-75,000.
The company will include more brands for both, men and women in coming season. Accessories such as watches, cufflinks, shoes, ties, belts, leather items and sunglasses from renowned brands like Church's shoes, Momo Design, Puma Black Station, Toy Watch, Molton Brown are also housed in the stores.
These stores also cater value added services to the customer which include made-to-measure clothing and a spa.
Fibre2fashion News Desk - India
marketing@alchempro.com
