Lux Industries Ltd will venture into kids wear, expand its retail footprint and double down on efforts to penetrate the south Indian market. The company, which clocked a turnover of Rs 2,273 cr in FY2022, plans to launch the kids-wear range in February. The company hopes to make it a Rs 100-cr business in 2-3 years. Simultaneously, it is also putting in place a strategy to expand retail presence by opening new brand outlets across the country.
“Over the next 2-3 years, our strategy is to expand the offering with kids wear, penetrate deeper in the market with retail outlets and also focus on the southern states,” Saket Todi, Executive Director of Lux Industries, said.
He was speaking at the sidelines of an event that introduced Sourav Ganguly as the brand ambassador for Lux Cozi, the largest brand within the Lux portfolio, ahead of the festive season. The brand is worth about Rs. 700 cr and is on course to reach Rs. 1,000 cr in 2-3 years, Todi added. For the southern market, the company will target Andhra Pradesh and Telangana to start with before reaching out to the other three states.
“We see a large opportunity for Lux in South India going forward,” Todi said. Lux has a manufacturing base in Tirupur in Tamil Nadu. However, majority of the company’s production base is in Bengal.
Lux Industries Ltd will venture into kids wear, expand its retail footprint and double down on efforts to penetrate the south Indian market. The company, which clocked a turnover of Rs 2,273 cr in FY2022, plans to launch the kids-wear range in February. The company hopes to make it a Rs 100-cr business in 2-3 years. Simultaneously, it is also putting in place a strategy to expand retail presence by opening new brand outlets across the country.
