London's illustrious and leading clothing and apparel brand, Savile Row has inked an exclusive production and distribution deal with Alok H&A Ltd. to launch its famed shirts in India.
Alok H&A Ltd. is a subsidiary company of Alok Industries, the India-based firm that engages in knitting, weaving and processing of home textiles and garments.
Savile Row would provide backward integration and sourcing facilities to Alok H&A. As the products would be produced in India, it would help the London based brand to cut down on its prices.
Savile Row intends to offer its famous shirts to customers in India at one-tenth of its offer price in the UK market. As against the price of Rs. 21,000 that it charges from its UK customers per shirt, the firm intends to offer these shirts to Indian customers at a price of around Rs. 1,799 to Rs. 3,000 per piece.
However, the brand does not intend to launch its famed suits in Indian markets in near future.
Pursuant to its association with Savile Row, Alok H&A proposes to start exclusive counters in its 25 big outlets in various State capitals and metros and it plans to shortly raise this number to 50.
Alok H&A intends to tap upper middle class buyers with Savile Row shirts and other merchandise. It would also consider launching exclusive Savile Row outlets.
In 2008, Savile Row entered into a 30-year deal with a unit of the Shapoorji Pallonji Group, Forbes Brands, for production and marketing of its products in India. However, as Forbes decided to exit the segment, the duo ended the deal last year.
The UK-based firm eyes to make around two to three million USD in revenues during the first year of its operations in India and to grow at an annual rate of 20 percent there after.
Presently, Savile Row's overall turnover comes to £175 million, with Asia contributing around two-thirds of the same. While around US$ 50 million of its earnings come from its domestic market, Japan accounts for around US$ 100 million.
Fibre2fashion News Desk - India
20240830145952.gif)
20240924091343.png)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
