Textile-to-retail conglomerate Arvind Ltd has forayed into worsted suiting category under its 'Primante' brand and is plans to capture 20 per cent market share of the Rs 2,000-crore segment in next five years.
"We have launched our premium worsted (a type of wool yarn) suiting brand Primante. It is the perfect combination of Australian Merino wool and Italian design conceptualised for the urbane and affluent Indian customers," the Ahmedabad-headquartered company said in a statement.
"With this brand, we aim to capture a 10 per cent market share of the Rs 2,000-crore worsted suit market segment in the next three years and 20 per cent in the next five years," a company statement said here today.
Primante has all wool and wool rich fine count fabrics with blends like silk, mohair, lycra, linen and innovative poly filaments. Apart from suit fabrics, offerings include fabrics for sport coats, tweed jackets and business coats. The product development and quality control parameters are of global standards, the company said.
Apart from selling the worsted suitings in fabric form in domestic market through its exclusive brand outlets and directly to various multi-brand stores, the company also aims to expand its exposure in high end Made to Measure customer suits business for India and global market though its venture Creyate, it said.
Commenting on the launch of the suiting brand, Kulin Lalbhai, Executive Director, Arvind Ltd, said, "We sensed the demand for innovation in the premium suiting category and took on the challenge of bringing something novel yet luxurious to the Indian consumer.
"Primante will set new benchmarks in product and design. We are very excited about entering the worsted market and going forward, we aim to have a 10 per cent market share in the over Rs 2,000 crore worsted suiting market in next 3 years and 20 per cent market share in 5 years," Lalbhai said.
In the fabric category, Arvind Ltd is currently present across 200 plus Arvind Stores (EBOs), 1500 plus Direct to Retail (DTR) outlets, 10,000 multi brand outlets (MBOs) and 15 Made to Measure (M2M) outlets.
"In the first year of Primante launch, we expect to cover 200 EBOs and 200 direct to retail outlets. In the next three years, we expect to gradually increase the brands presence across 1,000 MBOs. This is a part of our expansion plan of EBOs, DTR accounts and M2M outlets in the next three years," Lalbhai said.
