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Madura sees Rs 100 crore in Lp

Louis Philippe has launched a sub-brand christened Lp. The formal premium menswear brand from Madura Garments, Lp will be targeted at the youth.

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New sub-brand launched to target youth

MUMBAI: Louis Philippe has launched a sub-brand christened Lp. The formal premium menswear brand from Madura Garments, Lp will be targeted at the youth in the age group of 20-30 years and will offer work wear that can also double up as party wear for the “work hard and party harder types”.

Vishak Kumar, COO, Louis Philippe, told DNA Money that the new sub-brand range comes with slimmer fits, more colours, and detailing that suits the requirements of today’s younger consumer.

“We see tremendous potential for our new offerings and envisage it to be Rs 100 crore opportunity four years from now,” said Kumar.

Targeting the premium segment of the urban market, the shirts and trousers have been priced in the range of Rs 1,299-1,899.

Completing the wardrobe will be other products like knits, jackets and suits, etc.
While footwear is something that is still not part of the Louis Philippe and Lp offering,
DNA Money has learnt that the management has already started the process of conceptualising a footwear brand and line to be introduced in the future.

Retailing the new sub-brand will be done with a mix of exclusive and shop-in-shop (SIS) outlets of which the first exclusive store in Bangalore started receiving customers just recently.

Spread across 1,000 sq ft on an average, the management plans to have nine exclusive stores in the key urban markets like Mumbai, Delhi, Pune, Hyderabad, Chennai, Ahmedabad, Surat, Vijaywada and Chandigarh to start with.

On an average the management envisages investments to the tune of Rs 2,500 per square feet (fixtures only) for a 1,000 square feet store. The funding will be done internally.

“These stores would hit the various markets in the coming months. In another two years from now, the exclusive outlets will be increased to around 30 stores. We will also retail the range through shop in shops in Middle East and Maldives,” said Kumar.

Exclusive and SIS put together the management intends to have over 60 doors in the years to come. 

The range will also be retailed through multi-brand outlets (MBOs) that have the ability to attract and cater to the young consumer including their own retail store brand Planet Fashions.

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