Mumbai: Allen solly, a brand of Madura Garments, is eyeing a turnover of Rs500 crore by 2011, a top company official has said.
“We are aiming a turnover of Rs500 crore by 2011,” the official said. Presently, the Allen Solly brand turnover is at about Rs200 crore.
Speaking on expansion plans, the official said that Allen Solly’s store network too would be doubled by 2011.
“There are around 70 Allen Solly stores presently, we plan to double this by 2011,” he said.
Madura Garments, an Aditya Birla group company, plans to launch two new retail formats.
“We are planning to launch large-format men’s standalone stores which would cover around 3,000 sq ft area and will mainly have international brands catering to the high-end segment,” the official said.
Presently, the company is planning to launch the new formats by December this year, he said.
The company also plans to launch mass-priced family outlets which would cater to the entire family. This store size here would be in the range of 15,000- 20,000 sq ft, the official said.
Madura Garments will introduce its kids wear products through this format, he said, adding that this was expected to be launched in September.
Allen Solly presently has a market share of around 14% to 15% and was aiming to increase it to 20% in the next three years.