S Kumars draws up growth map for foreign, domestic businesses
After buying Chicago-based clothier Hartmarx Operating Corp., now called Hartmarx Operating Co. Ltd, its largest acquisition in recent times, S Kumars Nationwide Ltd (SKNL), is revamping growth strate
September 18, 2009 | comments ( 0 ) |
After buying Chicago-based clothier Hartmarx Operating Corp., now called Hartmarx Operating Co. Ltd, its largest acquisition in recent times, S Kumars Nationwide Ltd (SKNL), is revamping growth strategies for its international and domestic retail businesses. Owner of brands such as the premium Reid and Taylor menswear line will soon launch a clothing line with prices in the range of Rs175 to Rs400 for a shirt, to be sold through multi-brand outlets. Once launched, SKNL, plans and women’s wear would be added to the line. The textile company, which sells UK’s Stephens Brothers menswear line in India through 10 outlets, will reposition it as a mainstream rather than a prestige brand. To do this, the company will expand the stores to 100 and slash entry-level prices to Rs1,400 from Rs2,000. SKNL plans to enter the premium, casual wear segment with a brand called Balmoral, and is also looking at increasing production of home textiles such as bed linen that it sells under the premium Carmichael House brand in the years ahead.It will source fabrics for Hartmarx from India and China rather than from only Europe, as is done now at high prices. S Kumars is developing a wholesale and retail channel in Europe for Hartmarx brands and has identified around 100 points of sale.
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