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Apparel brand DYFI targets 250% growth in FY'13
21
Mar '12
DYFI, the young and trendy casual apparel brand from Shri Lakshmi Cotsyn Ltd. (SLCL), part of the US$ 400 million Shri Lakshmi Group, is planning to achieve 250 percent growth in fiscal year 2012-13 by opening new stores and launching a new womenswear line.

SLCL had launched DYFI - an abbreviated form of 'Do You Fit In' - as a denim brand targeting the youth of emerging India and had opened two EBOs in Gurgaon and New Delhi in July last year.

Currently DYFI has 12 exclusive brand outlets (EBOs) at New Delhi, Gurgaon, Kurukshetra, Hubli, Gulburga, and Shimoga. The DYFI collection is also available in more than 300 multi-brand outlets (MBOs) & shop-in-shops (SISs) across India.

Revealing the brand's expansion plans, Mr. Shakti Sinha, Business Head (DYFI) at SLCL, told fibre2fashion, “By the end of 2012-13, we plan to increase our EBOs to 45 by launching an average of three stores a month. Besides EBOs, we are targeting 1,000 MBOs by 2012-13, apart from consolidating our network of business partners.”

Informing about plans to unveil womenswear line, he says, “SLCL manufactures and exports womenswear to major brands worldwide. Therefore, launching a line catering to women is a natural extension for its brand DYFI. The new line will be launched in AW'12. However, it will be showcased in selected markets before being offered in outlets across India.”

“DYFI targets fashion driven youth in the age group of 18-30 years. The brand boasts complete competency in denim and offers a wide variety of jeanswear, non-denim bottom wear (trousers, shorts, cargos, etc.) with complementing range of top wear (shirts, T-shirts, jackets, etc.) and accessories to present a delightful brand experience to its customers. With the launch of new womenswear line and other plans for expansion, DYFI is eyeing to grow by 250 percent in the fiscal year 2012-13,” Mr. Sinha elaborates.

Giving his opinion about the right time for brands to enter Tier II and Tier III cities, he avers, “People in metro cites are already exposed to major international brands and now young population in Tier II and Tier III cities is looking forward to have similar kind of 'brand' experience. Hence, it is now the right time for brands to have the first-mover advantage and enjoy the brand loyalty. However, prior to that, the individual evolving brands have to assess the need and the pocket depth of consumers in smaller towns for its products.”

Fibre2fashion News Desk - India

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