Having acquired Britain’s leading towel brand Christy in July this year, B K Goenka-spearheaded Welspun Group now plans to introduce it in the Indian market.
Looking at marketing pacts with international brands
MUMBAI: Having acquired Britain’s leading towel brand Christy in July this year, B K Goenka-spearheaded Welspun Group now plans to introduce it in the Indian market.
Deepali Goenka, director of Welspun India Ltd, told DNA Money: “People are demanding products that deliver value in terms of their usage and not really the pricing. Adding colour to the market is the booming housing sector which is more about selling lifestyle than just a house. Brands are finally making inroads into people’s minds in the home textile market as well.”
Currently retailing their home textile range under Welspun Homemart (factory outlets) and Spaces brand of retail stores besides shop-in-shops in leading retail chains, the management is toying with the idea of adding another level after Spaces.
“Offering value proposition with factory surplus, Homemart caters to the masses. Offerings from Spaces begin where Homemart ends and we would like to add another layer catering to the top of the pyramid. Christy seems to be a good way of going about it,” said Goenka.
The company also operates eight Spaces stores across various markets in the country. The company intends to multiply their existing retail network to 150 Welspun Homemart stores and 60 outlets under the Spaces branding by 2008.
The capex for retail expansion in the coming years is estimated to be over 100 crore.
“We are aiming our retail business to be Rs 500 crore company by 2008. We already closed at Rs 100 crore in the last financial year. The increased retail foot print and new product innovations will help us achieve the target,” said Goenka.
Welspun recently unveiled its premiere autumn-winter collection for 2006. Featuring five unique product offerings, the products are positioned as the wellness collection and offer bed and bath range with lifestyle accessories for the entire home.
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