Holii, a fashion accessories brand and a joint venture company between Hidesign India and Future Ventures, will diversify into apparel and launch a couture line by December.
Holii has so far been in the business of designing and distributing fashion accessories, such as luxury handbags, wallets, Ipad covers, laptop bags and other leather products for women in the luxury and mid-segment price bands. The brand grew 60 per cent last year and is now a Rs 20-crore one.
It is also looking at exports to markets such as Jamaica, South Africa, Dubai, Europe and Germany. Ranging from Rs 1,895 onwards, Holii bags are available at 12 standalone boutiques across Bangalore, Chennai, Kolkata, Mumbai, Pune and New Delhi. The collection is also available at Central, Lifestyle, Pantaloon and Shoppers Stop outlets.
Gilles Moutounet, chief executive officer, Holii, says the brand is also set to get a makeover soon — look wise and price wise, “Holii is evolving as a brand and in its offering too. We are playing with different fabrics and colours but mainly along with leather as the knowhow comes from Hidesign. We are in the process of changing but we want to keep the Indian seal as is. And, while we do that, we are also looking at drawing inspirations from Indian handicrafts for our designs. We are going to re-price our products to be in tandem with Hidesign’s luxury collection. That will be in the range of Rs 8,000 to Rs 15,000.”
With the makeover in feel and price points of Holii, the company is also looking at changing the logo and totally re-branding it, adds Gilles.
Holii will soon have stores in 16 more cities like Chandigarh, Kolkata, Lucknow and Kochi.
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Since Holii is predominantly into bags and accessories, what explains the diversification into clothing? “This will generate extra revenues for the fiscal, will help in brand building and will also give us the opportunity to present Holii in more exclusive fashion boutiques. There won’t be any special investment dedicated to the couture collection. The Holii couture will be launched as part of our global budget,” says Gilles.
Sunglasses, priced in the Rs 3,000 to Rs 4,000 range, are also on the anvil as the brand wants to make the experience more interesting for the customer and also get them to spend more money in the stores.