Kidswear brand Adams plans to employ new pricing strategy
In a bid to build its consumer base in India, British children’s wear brand Adams is stitching plans to cut prices by 15-20 per cent by the next season.
May 14, 2010 | comments ( 0 ) |
The brand is currently reworking on its pricing strategy to score over its competitors Gini & Jony and Benetton, which are strong players in the kidswear segment. The brand is 30-35 per cent more expensive as compared to its competitors.
Dinesh Marya, country head, Adams, said that almost 40 per cent of their line of products would undergo a price revision. The brand is focusing on the categories that are expensive and other categories may undergo 4-5 per cent reduction.
Adams has 10 stores in cities such as Mumbai, Ahmedabad, Delhi, Bangalore and Hyderabad. It plans to open six more by the year-end at an investment of Rs 4.5 crore.
Marya said that the company will restrict to metros only. The plan for expanding in tier 2 cities will be put on hold till the time the pricing strategy is resolved.
Adams is a premium fashion retailer in the UK for kids aged 0-10 year, offering casuals to partywear, accessories and baby essentials. In India its products are priced in the range of Rs 595 to Rs 1,595. The branded kidswear market in India is estimated at around Rs 3,500 crore with just 10 per cent of the market being organised.
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