The global women's innerwear brand Triumph International today said it is eyeing over Rs 450 crore revenue from the domestic market in the next five years.
The company, which has a presence in 120 countries, plans to invest nearly 7 per cent of its global turnover in India, Triumph India managing director Thorsten Allenstein said here today.
"Demand for branded fashionable lingerie is slowly picking up in India as there is a shift from need-based purchase to fashion-driven purchase. With Triumph being the first international lingerie brand in India, we expect the turnover to go up to over Rs 450 crore in the next five years," Allenstein told PTI.
The company has launched only two of its brands, Triumph and Sloggi, in the country so far. Allenstein said the company cannot not directly invest here because of the regulatory issues and hence has to depend on retail and franchisee businesses for selling its products here.
"Owing to the FDI regulations applicable, we cannot sell our products directly here. So we have to completely depend on the retail and franchisee routes," he said.
The company at present has 7-9 flagship stores in the country, especially in the metros and 20 partner stores, besides presence in 120 department stores.
About the company's diversification plans, Allenstein said, "our goal at this moment is to become an undisputed dealer in women's innerwear in India. At the same time, we are also looking to launch our premium men's wear brand Sloggi Men here, in the next three-five years. And want to make India one of the ten largest markets for us."
On the performance in India so far, he said, "there was no recession here. We made an all-time high business last year here. This is mainly because Triumph is an established brand and there is loyalty for the brand."
