Ashish Dikshit is buoyant on launching new standalone stores
He was busy observing the layout and design of an Esprit store in a coming-up mall in the capital, when 4PsB&M caught up with Ashish Dikshit, President, Madura Garments (from the stable of the Aditya Birla Group). And not without reason. After all, he is gearing up to launch several standalone stores for the various brands in Madura Garment’s kitty in 2008.
What’s more, the plan is to have stores of similar brands strategically placed next to one another. For example, a Van Heusen outlet would be right next to the Louis Philippe store, and so on. The logic is seemingly simple – if a customer is looking for wider options, he/she will not have to travel far to encounter another brand outlet from the Madura Garments stable. And such aggressive plans are not only limited to one mall in Delhi, instead the company has similar plans across all metros, for 2008.
And why not? Madura Garments has plans to launch more that 15 new brands in 2008. The company is not only gearing up with exclusive marketing plans, but is vigorously strengthening its back end too. “We will introduce more brands in 2008, targeting all classes of audience. We will have more retail presence and more exclusive outlets. Another five years and all our brands will have outlets in every corner of the country,” explains Ashish. Presently, the company boasts a 30% market share and has managed to steal the show from arch rival Arvind Brands by buying most of the brands they sell. Similarly, even the brands they will reveal in 2008, will be owned by the company. “Most of our brands are self owned, with more than 50% stake in each of them,” avers Dikshit. “From the profit perspective, it’s always safer to have your own brands and that’s the reason that Madura has been the most profitable company in the segment,” feels an analyst from CII.
Small surprise that the Clothing Manufacturers Association of India (CMAI) has bestowed Madura Garments with award like the Most Admired Company of the Year for two consecutive years 2006 and 2007. Says D. K. Nair, Secretary General of Confederation of Indian Textile Industry, “Domestic consumption of garments will have a growth of over 10%, as more people shifting from custom-made to ready made garments.” Madura Garments, for one, is gung ho to tap this market, with an aim to increase their turnover by 25% from the present Rs.395 crore.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
He was busy observing the layout and design of an Esprit store in a coming-up mall in the capital, when 4PsB&M caught up with Ashish Dikshit, President, Madura Garments (from the stable of the Aditya Birla Group). And not without reason. After all, he is gearing up to launch several standalone stores for the various brands in Madura Garment’s kitty in 2008.
What’s more, the plan is to have stores of similar brands strategically placed next to one another. For example, a Van Heusen outlet would be right next to the Louis Philippe store, and so on. The logic is seemingly simple – if a customer is looking for wider options, he/she will not have to travel far to encounter another brand outlet from the Madura Garments stable. And such aggressive plans are not only limited to one mall in Delhi, instead the company has similar plans across all metros, for 2008.
And why not? Madura Garments has plans to launch more that 15 new brands in 2008. The company is not only gearing up with exclusive marketing plans, but is vigorously strengthening its back end too. “We will introduce more brands in 2008, targeting all classes of audience. We will have more retail presence and more exclusive outlets. Another five years and all our brands will have outlets in every corner of the country,” explains Ashish. Presently, the company boasts a 30% market share and has managed to steal the show from arch rival Arvind Brands by buying most of the brands they sell. Similarly, even the brands they will reveal in 2008, will be owned by the company. “Most of our brands are self owned, with more than 50% stake in each of them,” avers Dikshit. “From the profit perspective, it’s always safer to have your own brands and that’s the reason that Madura has been the most profitable company in the segment,” feels an analyst from CII.
Small surprise that the Clothing Manufacturers Association of India (CMAI) has bestowed Madura Garments with award like the Most Admired Company of the Year for two consecutive years 2006 and 2007. Says D. K. Nair, Secretary General of Confederation of Indian Textile Industry, “Domestic consumption of garments will have a growth of over 10%, as more people shifting from custom-made to ready made garments.” Madura Garments, for one, is gung ho to tap this market, with an aim to increase their turnover by 25% from the present Rs.395 crore.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
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