7th Sep 2012
Sri Lanka’s Timex Garments, which opened its first Avirate brand outlet in India last December, now plans to increase the count of its Avirate outlets in India to seven by close of the current year, and to 30 by end of next year.
With an aim to penetrate in Indian market in a big way and to cater to high-end consumers, the brand plans to set up outlets in key malls across India, Timex Garments CEO Arshad Sattar said.
Eyeing good returns from its stores in Delhi, Bangalore and Chennai, the turnover of the brand’s India business is expected to reach US$ 10 million by 2013, while Avirate’s Sri Lanka sales are likely to touch US$ 3.5 million.
The brand also plans to enter ecommerce, as it has become a huge business in India, Mr. Sattar said.
Timex Garments posted robust growth over the last 18 months, mainly due to launch of the personalized Avirate brand, he added.
Mr. Sattar said Avirate is the first Sri Lankan conglomerate to have introduced a garment brand in European market.
Timex plans to bring at work a two-fold strategy to tap Asian, Far East and Middle Eastern markets. Avirate apparels would be offered in multi brand outlets and shoppers stores in Dubai, Hong Kong, Malaysia and Singapore, Mr. Sattar said.
With novel business model and strategies, the brand plans to grow its consumer base by 30 percent in first quarter of next year.
Fibre2fashion News Desk - India