Company sources said that the two brands were expected to close the year with a three- figure turnover, provided, there were no hiccups in the last quarter. The Indian Rayon-acquired Madura Garments' Louis Philippe and Peter England are positioned in the premium and mass-marketed segments respectively.
Louis Philippe, launched in 1989, is the oldest brand in the Madura Garments' portfolio. In fact, the company kicked off operations with Louis Philippe more than a decade ago. Currently, Louis Philippe shirts are priced between Rs 800 and Rs 2,000.
On the other hand, Peter England, launched in 1996 with the 'honest shirt' tag, has emerged as the biggest among the company's brands. This brand is available across 2000 odd outlets across the country.
The other brands of Madura Garments include Van Heusen, Allen Solly, San Frisco and Byford. Recently, it forayed into womenswear category by extending Allen Solly brand. The company expects to boost its topline to Rs 500 crore by March 2003. The company, which had projected 30 per cent growth in the current year, has managed to report about 21 per cent rise in the first nine months.
The decade-old Madura Garments has emerged as the largest retailer of readymade apparel labels in the country, with presence in over 200 urban centres. The company's brands, including Louis Philippe and Peter England, are the most influential in the domestic menswear market. The leading retail chain, Shoppers' Stop, acknowledged that as its shirt sales slipped 20 per cent when Madura's brands were taken off shelves for a brief period.
January 18, 2002