Hi-Fashion opens its first exclusive outlet in Hyd

Gurgaon-based Hi-Fashion Clothing Co, a leading apparel manufacturer, opened its first exclusive store in Hyderabad on Monday.

The Rs 60-crore company, which has a flagship brand called 'Numero Uno', is currently in the process of negotiations for opening two more exclusive outlets in the city by the end of the current fiscal. The company has 16 exclusive outlets, excluding the Hyderabad outlet.

Addressing the media on the launch of the company's first exclusive 650-sqft store in Hyderabad, VY Masih, head (marketing), Hi-Fashion Clothing, said: "Hyderabad is a good market for us and we are in the process of negotiations for opening two more exclusive outlets in the city by the end of this fiscal."

Hi-Fashion is targeting a growth of about 25 per cent this fiscal. "The company clocked a turnover of Rs 60 crore last fiscal and is aiming at crossing the Rs 75-crore mark this fiscal," Masih said.

"At present, we enjoy a marketshare of about 80 per cent in jeanswear in north India," he added. The jeanswear market in India is estimated to be at Rs 1,900 crore.

Hi-Fashion also has its presence in 70 chain stores and 600 multi-brand outlets across the country. It recently tied up with international brand 'Lycra', and a large part of its new apparel collection called 'NU Revolution' is made out of the material sourced from Lycra. Hi-Fashion has also forayed into exports.

"We have started exporting to countries like the UAE. But since we ventured into exports only last year, we will not be able to give you the export figures," Masih said.

Besides denimwear, Hi-Fashion is also into knitwear comprising T-shirts, sweatshirts, track pants and sweaters. It has three manufacturing facilities, one each at Gurgaon, Okhla and Dehradun.

"Hi-Fashion is also diversifying into other products like deodorants" Masih said. "This apart, we have also set aside a huge budget for advertising in films and theatres. At present, we are advertising on popular music channel MTV to target the youth," he added.