French brand Lacoste eyeing to double sales turnover by 2021

French clothing brand Lacoste is looking to double its points of sales to 100 in India and increase its sales turnover by two-fold by 2021 on account of its entry into the fast growing online retailing channel in the country.

"We have launched our digital flagship store in India catering to over 6,000 pin codes. It will help us reach out to a larger number of customers. We are also in talks with select marketplace firms to sell our products," Lacoste India Managing Director & CEO Rajesh Jain told PTI.

Lacoste India, which did not share financial numbers, operates 48 stores across 18 cities in India and one store in Maldives.
 

The company plans to open 6-7 brick and mortar stores this year. New stores will be a mix of company-owned and franchised stores.

On expectation from e-commerce, he said: "In the next 18-24 months, we expect our digital flagship to contribute to 3-5% of our total sales. E-commerce channel overall is expected to contribute 10% of the total turnover by that time."

India is the fifth market in Asia Pacific for Lacoste to launch its digital flagship after Korea, Japan, China and Australia.

It operates in India through Sports and Leisure Apparel Ltd, which is a licensee of parent Lacoste SA to manufacture and market its products.