VIP to launch Green Room across IndiaAugust 13th, 2008 - 6:40 pm ICT by IANS
Kolkata, Aug 13 (IANS) Maxwell Industries, promoters of Indian innerwear major VIP Group, plan to set up exclusive retail stores across India, called Green Room, which would have all VIP brands in its showcase, said a top company official here Wednesday. Maxwell Industries director Kapil Pathare in a press meet said: “With the retail sector growing enormously in India, we plan to open 200 Green Rooms over three years, which will offer all the brands of the company under one roof. The exclusive stores across India will be opened through franchisee route.”
It has already test-marketed the Green Room concept in Maharashtra.
The VIP group, with brands like VIP, Frenchie, Frenchie X, and VIP Feelings, has 25 percent share of the organised innerwear market.
The company is in talks with a French innerwear company for a joint venture, in which VIP would manufacture and sell the products in India under the brand name of the French company, Pathare said.
VIP plans to introduce an exclusive children’s brand very soon, he added.
The company clocked a turnover of Rs.2.05 billion last fiscal and expects it to touch Rs.2.25 billion in the current fiscal, he added.
It is expected that Green Rooms would fetch an additional 40 percent turnover over the next three years.
“We are planning to setup spas by tying up with some company. But it is at a very nascent stage,” he added.
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