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Innerwear maker Lux earmarks Rs 1bn for expansion
13 Mar '13
1 min read
Lux Industries Ltd, a major player in Indian innerwear market, is set to invest Rs. 1 billion for expansion.
There is huge growth potential in premium innerwear and undergarment segment in India, and to explore the same the company plans to invest Rs. 1 billion in plant, machineries, marketing and to introduce new products, Chief Operating Officer of the company Dilip Newar said.
Intending to cater to urban and semi-urban youth, the firm’s premium innerwear brand ONN would unveil its latest collection this season, with Shahrukh Khan endorsing the same.
Manufacturing over 100 products, the firm operates more than 500,000 outlets in India and looks forward to tap a one-fourth share in Indian market by 2016-17.
Meanwhile, it has also begun to explore overseas markets, and marks a good presence in foreign markets, with offices in Europe, Africa and the Middle East.
Fibre2fashion News Desk - India
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