Provogue to launch range for women

Garment manufacturer and retailer Provogue India plans to expand its range of products with the launch of women's and children's wear in the next two years. It also intends to offer accessories such as watches, shoes and body products.

Provogue will commission a designing studio at Mumbai with an investment of Rs 4.5 crore to help its expansion plan.

The women's wear market in India is estimated to be worth Rs 30,000 crore. It is growing at the rate of about 12 to 15 per cent annually.

"We are planning to expand our range of offerings to tap the market for women's and children's wear. The new range of women's wear by Provogue is targeted at the 22-35 year age group and will be launched by the end of this year. We hope to launch children's wear in the next two years," said Nikhil Chaturvedi, managing director, Provogue.

"Our range of garments for women includes suits, jackets, jeans and innerwears," he added.

"We are investing about Rs 4.5 crore in a world class studio with all necessary facilities under one roof to back our plans," Chaturvedi said.

Meanwhile, Provogue plans to launch 21 exclusive mega stores of 5,000 sq ft each and 41 branded stores in 19 cities with an investment of over Rs 28 crore. It has lined up a initial public offer to fund the expansion. The IPO will hit the market on June 10 and has a price band of Rs 130 to Rs 150 per share.

"Under our capacity expansion plan, we will start manufacturing trousers for the first time at our Daman facility. The company will manufacture 1,000 trousers per day and enhance the facility for shirts from 2000 to 3000 pieces per day at Daman," said Chaturvedi.

The company has, however, not charted plans to manufacture women's and children's wear on its own.

"We usually outsource garments for our range of products. Almost 50 per cent of our requirements are met from contract manufacturers. We do not plan to manufacture women and children wear on our own," said Chaturvedi.