Lux to be a Youth-centric Brand, Add New Products
Kolkata: After bringing Varun Dhawan on board as their brand ambassador for Lux Cozi, Kolkata-based ₹ 950-crore Lux Industries plans to reposition itself as a youth-centric brand and add more products to their existing range. Targeting an annual turnover of ₹ 2,000 crore by the end of 2020, the brand is also adding more manufacturing units to its present inventory.
While the company already has operational manufacturing units in Bengal, Ludhiana, Roorkee and Tirupur their upcoming manufacturing outfit at Ghaziabad would be their latest additional. The 30,000 sq ft unit would be manufacturing women’s intimate wear under their sub brand Lyra. Ebell Fashion, a Lux group company that manufactures Lyra, a women’s legging range would now be expanding their portfolio to the women’s lingerie and loungewear segment. The brand that clocks close to ₹ 150 crore turnover will target the affordable intimate wear users and stock products between ₹ 200 and ₹ 450 range. “Our legging business is growing by 50% a year and currently we command a market share of 38% in the mid to premium segment. With that kind of credibility we are hoping to make a place for ourselves in the lingerie segment too,” said Udit Todi, senior vice president, Lux Industries.
The range would be available at all retail outlets that sell Lux products and would be in the market by the end of the quarter.
Also, moving from being just an innerwear brand, Lux is also concentrating on their outerwear range. One of their premium brands ONN that launched active wear last year is planning to scale up both their manufacturing and selling this year. “Last calendar year we sold fifty thousand pieces but by the end of 2017 we are targeting the sale of ten lakh pieces of ONN active wear, sold through our distributer and retailer chain,” added Todi.
Targeting an annual turnover of 2,000 cr by 2020, the brand is also adding more manufacturing units