Peter England, a mid-range apparel division of Aditya Birla Nuvo, has set a turnover target of Rs 1,200 crore by 2012-13. The company has said it would spend around 9-10 per cent of the turnover on brand building which the company is starting after a gap of 7-8 years.
Kedar Apshankar, chief operating officer, Peter England, one of the largest selling shirt brands in the country with a market share of around 20 per cent, said the brand has clocked revenues of around Rs 400 crore in 2009-10. It is likely to close the present fiscal with revenues of Rs 500 crore and by 2012-13 it will be increased to Rs 1,200 crore.
“The growth drivers will include forays into new towns and merchandise addition,” he said.
Aditya Birla Group brought Peter England to India in 1997. It’s merchandise offering spans from ‘relaxed office-wear’ to ‘weekend casuals’. The portfolio is completed through t-shirts, jackets, denims, cargos, sweaters and among others.
Presently, the brand is present in 600 towns across the country and another 400 towns will be added by 2012-13. The company is planning to add 150 new outlets too over the next three years and one-third of them will be company-owned, said Apshankar.
He added, a 1,000 sq ft outlet would require an investment of Rs 15-20 lakh.
Presently, the company has 500 exclusive stores and is present in 2,000 multi brand stores.
The brand which contributes around 25 per cent to Madura Garments, a division of Aditya Birla Nuvo Ltd. The company is likely to close this fiscal with a turnover of Rs 2,000 crore and Rs 4,000 crore by 2012-13, by which Peter England contribution would be around 28-29 per cent.
The company also betting big on accessories, “This is fast and rapidly growing segment for Peter England. Currently the company offers ties, belts, bags, wallets, bags and planning to add two category every year.
