New Athleisure range will be available over 7000+ MBO’s and 30+ EBOs by the end of Financial year: Puneet Kumar Malik
In an exclusive conversation with Puneet Kumar Malik, COO, Innerwear Business, Aditya Birla Fashion and Retail Ltd sheds light on recently introduced innerwear line under the brand Van Heusen.BY Shipra Srivastava | August 23, 2017 | comments ( 0 ) |
Puneet Kumar Malik
What’s is the branding strategy? Van Heusen so far has been present in accessories and apparel in India.
Expansion into Innerwear and Athleisure business is a strategic progression for Van Heusen, as we want to provide complete fashion solution to our Indian consumers. We see a big business opportunity in this growing segment and have launched Innerwear and Athleisure by offering innovative, fashion forward and high performance products that upgrade the consumer and elevate their lifestyle quotient. We have a strong distribution network and will be available across key markets and touch-points, in over 7000+ MBO’s and 30+ Exclusive Brand Outlets (EBOs), nationally, by the end of this financial year.
What kind of business are you looking at? How big is India's market as far as fashion and high end innerwear is concerned?
The market size of men’s innerwear was around Rs. 7000+ crores in 2014 and is estimated to be Rs.9000+ crores currently. It is growing at a CAGR of 13% per year. Currently, the economy segment is about 50% of the market and Mid Premium plus Premium is about 40%-45% of the market. The super-premium segment accounts for about 5%-10% of the market. The Mid-premium and premium segments are growing faster while the economy segment is growing at ~9% every year. Moreover, consumers have evolved to become fashion savvy and brand conscious while price sensitivity is reducing in this segment.
How does it plan to create a market among other existing strong brands already flourishing in India?
We follow a localized distribution model which has worked very well for us in South India and has created a strong value proposition for our brand. As the core principle of the brand, our products are crafted on the ethos of Fashion, Innovation and Performance and our differentiated offering along with network partnership, superior quality and competitive pricing will help us expand in the current market. We already have a strong presence across 1700+ multi brand outlets covering 80+ towns in South India and the range is also available across 250 Van Heusen stores, 300 Planet Fashion stores as well as leading department stores across India. As we prepare to expand into newer markets in India, we will have a distinct position, to expand into newer markets in India, we will have a distinct position, which will significantly contribute to the leadership position of the company.
Kindly mention starting and exiting price point for Innerwear and Athleisure line?
We have introduced all new range of Innerwear and Althleisure, offering sophisticated styling with new and innovative product features for the best in class comfort and fit. Van Heusen’s Innerwear range comprises four collections including Classic, Platinum, Signature and Active. Each collection has been designed to offer a differentiated range to the various consumer segments.
Classic – The classy wardrobe essential offering performance features like all day fresh and colour fresh.- The range starts Rs.140 onwards.
Platinum - The range offering sophisticated styling and elevated comfort with Pima cotton - The range starts Rs.269 onwards.
Signature - Fashion innerwear with Flexi stretch feature for body defining fit. - The range starts Rs.289 onwards.
Active - True sports innerwear with Swift Dry feature - The range starts Rs.249 onwards.
Athleisure – The multi-purpose wear created for the Gym, the Brunch, the Street. Crafted with elevated fashion and new age fabric, it also comes with Smart-Tech feature that offers benefits like quick dry, stain release and anti-stat, making this a true cross over between fitness and fashion.
The company is also introducing the Metropolis Athleisure collection, and the range starts Rs.269 onwards.