Menswear Co Hasbro gears for the marketplace, moves to expand local and overseas presence
19 May '05
2 min read
with genesis and basics menswear brands already established in south indian markets, the chennai-based hasbro revealed its strategic business shift for the year.
acknowledging the fact that fashion oriented south indian males prefer brands on the basis of quality and pricing, the company will eveolve its corporate merchandise, retailing and communication strategy based on 'quality and price.'
it is learnt that hasbro is setting up a design studio in the 'next few months' at a cost of rs 10 to rs 12 crore, informed suhail sattar, partner.
the company also knows that many top international brands would make inroads in to markets and hence, the company was gearing for it.
company turnover reached rs.35 crore last year, and has targeted rs.50 crore for this year, giving it 40 percent business growth across markets over previous year.
on its brands, basics will get a logo change with company ad budget finalised at rs.4.5 crore. radical, a chennai-based pr agency has been enlisted to carry out extensive media campaign for the company.
currently, hasbro has 14 exclusive outlets in south india, and expects to add a dozen more by the end this fiscal. investment to the tune of rs.3.5 crore has been planned for this retail expansion alone.
gulf and sri lanka are the export markets that generate 10 to 15 percent of the company revenues.
there are no plans for expansion in north, says another partner hanif sattartar, though multi-brand stores across the country carry their labels.
marketing@alchempro.com
