Cambridge Apparels, plans an image makeover through a Rs 5 crore ad blitz, diversifying into women's formal wear, expanding its store-network and pushing its two brands, Platinia and Work and Play Collection. The company is also eyeing a Rs 100 crore turnover by end-2011.
"So far, Cambridge has been well-known as a menswear brand in the value-for-money segment. Now, as a part of our makeover strategy, we plan to diversify into women's formal wear through our brand -- Cambridge for Her. We have also launched a Rs five crore ad blitz from this month," said Prashant Bhatia, Director at Cambridge Apparels.
Cambridge will combine both fashion and affordability and will roll-out its women's-wear brand by end-March, he said. "We will position it in the affordable segment. The price range will be between Rs 300-699," he said, adding "our USP will be the huge variety we will offer."
A Rs five crore ad blitz has been unleashed from February 6 to spotlight its Platinia premium range of apparel as well as its women's premium range and Work & Play collection, he said. The company which clocked a turnover and PAT of Rs 75 crore and Rs four crore in FY 09 is targeting a 20 per cent growth this fiscal and a 30 per cent growth in the next.
On expansion, he said that Cambridge, which is very strong in the west and south, plans to now expand in the north in places like Delhi, Haryana, Punjab and UP.
"Presently, we have 450 outlets comprising of both exclusive and multi-brand outlets. We plan to add 125-150 more outlets by end-2011," he said.