Arvind Mills’ garments division, which has ruled out any domestic acquisition at the moment, is now trying to reposition the brand.
KOLKATA: Flying Machine, said to be India’s first indigenous jeans brand, is headed for the make-up room. Arvind Mills’ garments division, which has ruled out any domestic acquisition at the moment, is now trying to reposition the brand.
The brand had been experiencing limited sales, stagnating at a mere Rs 5-6 crore till 2005. In 2006, a focus on the distribution channels helped to put it on the shelves of 200 multi-brand outlets, pulling up sales to Rs 25 crore, where it seems to have plateaued, necessitating a rejig now.
J Suresh, chief operating officer, Arvind Brands, told DNA Money: “We are working on a new positioning for Flying Machine. Being the first jeans brand, it was so far driven on heritage… It’s early to say what the exact positioning will be, but jeans is a youth product and we may use this theme.
He added that, for the first time, dedicated Flying Machine brand stores will roll out in 2007-08 with product price points pushed a tad further to about Rs 895-1,495 from Rs 795-1,295 today. Overall, jeans is a crowded market worth about Rs 5,000 crore, in which organised brands enjoy a 15% share. Levis, Lee and Pepe are the market leaders, each worth about Rs 100 crore. Arvind aims to fly its Flying Machine into the Rs 40-crore zone by the end of the next fiscal.
Arvind’s home-grown brands — Excalibur, Flying Machine, Newport and Ruf N Tuf — are expected to bring in revenues of Rs 100-110 crore this fiscal. But, the company will be riding more on the lifestyle brand Excalibur to reach the targeted Rs 150 crore next fiscal.
Excalibur is expected to close this fiscal at Rs 60 crore, up from Rs 43 crore in the last.
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