Hakoba Lifestyle aims at Rs 350 cr sales by '10

Hakoba Lifestyle Ltd, a subsidiary of the Pioneer Embroideries Ltd. is eyeing a business of Rs 350 crore by 2010 and plans to open up 250 stores by 2008.

The company is also planning to open a store each in the UK and Australia. At present, the company has 66 stores across the country. According to the management of the company, by the end of this year it will have 100 stores and is targeting 250 stores across India and abroad by 2008-end.

Mahendra Sekhani, Director, Hakoba Lifestyle, told Business Standard, "We have set up a target of Rs 350 crore by 2009-10. We have registered a sales of Rs 90 crore in 2006-07, it will be increased to Rs 200 crore to Rs 225 crore in 2008-09 and Rs 300 crore to Rs 350 crore in 2009-10."

Talking of the company's plans to achieve this sales target, Sekhani said, "A number of elements will help us boost our sales. A wider spread of our outlets is one of them. We launched 19 outlets in 10 cities of Gujarat on May 27. With this addition we have 66 stores across India. We are planning to up this number to 100 by the fiscal-end. The number of stores will be further raised to 250 by 2008-end. We are planning to open one store each in the UK and Australia. This will naturally increase our sales income."

"Secondly, we will start exporting from this year. Till now the company was not exporting. We will export to the same countries which have been importing embroidered garments for women from the unorganised embroidery sector of Surat and Mumbai. These countries include Middle East, UK, Malaysia, Mauritius, US and South African countries."

He said that the total Indian exports of embroidered garments from India stands at Rs. 1000 crore per annum.

"In the first year of exports we will try to bag 2 per cent of this total exports which will be further increased to 5 to 10 per cent in a few years' time, " Sekhani added.

According to Sekhani increase in the variety will be the the third element that will boost up the company's sales.

"At present we have only salwar, kurta, dupattas and saris in our range. We are planning to launch embroidered jeans too in near future. Our technicians and designers are carrying out the necessary research regarding this. The jeans will be launched under the brand name of Hakoba."

The company will also try to project the brand as the youngsters' choice as at present it is considered to be the women's embroidered garments brand.

"With this launch, Hakoba also plans to expand its brand presence from currently being the most preferred brand women to also becoming the favorite brand for the youngsters," Sekhani said.

Hakoba range of product has ready to stitch salwar kameez and dupatta sets, sarees ranging from daily wear to bridal wear, fashion fabrics and ready to wear garments for men and women, which includes, formal and designer shirts for men and women, ladies tops, shirts, long skirts, middies and capris.