“We would be having nearly about 1,000 outlets, stocking our products in India and abroad”, said the dynamic CEO of Remanika Apparels, Mr Jalaj Kakkar.
Remanika, the renowned womenwear brand has lined up major expansion plans in its product portfolio as well as expanding its reach, in order to attain a turnover of Rs 700-750 million, next year.
Remanika which caters to the 16-30 age group plans to provide a new product offering at the start of each season. Remanika had a bountiful business growth of 60 percent year-on-year in the previous fiscal year, helped in no less measure by its attractive pricing and product offerings.
The product portfolio which includes a wide range of womenswear like spaghetti's, dresses, capris, skirts, tops, pants, denims and jackets is available at an affordable price range of between Rs 700-2,000.
“Our brand is looking to change its product line. With changing lifestyles, organized retail is playing a key role in structuring the Indian domestic market, reinforced particularly by rising incomes and growing purchasing power among consumers in rapidly growing sectors of the economy such as information technology and business”, said Mr Kakkar.
“International brands such as Benneton, Lacoste, Levi Strauss, Dockers, Lee, Wrangler, Guess, Esprit, Mango, Hugo Boss, Mark & Spencers, Tommy Hilfiger & Zara have already built a retail presence in the country, while market watchers point out that several more such as Versace, Fendi, Trussardi, etc have charted out a strategy to enter the Indian market.
“Most of the brands entering the market are targeted at the premium end. According to estimates, the premium apparel segment in India is valued at about Rs 19 billion and growing at 20 percent.
“So, to fight these international brands, Remanika has to have better quality, better front end staff etc. We need to streamline our processes, systems and back-end. The supply chain has to increase and production has to be on a different level.
“Remanika also has focused on media and promotions which are important for growing brand awareness and consciousness among young people. The company will be stressing on building brand loyalty as it aspires to achieve its target growth this fiscal year”, he informed in detail.
Giving details on the consumer segment, products range and towns and cities under focus, he said, “Our target audience is women between 16 to 35 years of age- college girls, working women, home-makers, models, film stars etc.
“The realm of our customer range is impressive and it is all thanks to them that our brand is growing faster than any other brand in our category. By targeting young women between the age group of 18-35, the brand is rapidly growing its presence across all major cities with its exclusive brand stores.
"Remanika will also continue to widen its reach through partnerships with leading retailers like Pantaloon, Shoppers Stop, Lifestyle, Central, Westside and Reliance Trends among others.
“We want to be present in every tier II and Tier III towns in India and seek out every available customer in India. Small towns have a melee of aspirational clients and I, want to take our fashion to each one of them across India. We would be having nearly about 1,000 outlets in India and abroad”, he wrapped up by saying.
Fibre2fashion News Desk - India
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