Madura Garments, which is a company under the Aditya Birla group, is going to open exclusive stores for fashion accessories range of global lifestyle brand, Esprit.
The company, which is a distributor of the Esprit brand in India, intends to have ten stores for selling Esprit accessories by 2011 and is also planning to attain an annual turnover of Rs 1000 million this financial year from the sale of complete range of Esprit products together with garments.
In the beginning of the next financial year, the company is likely to establish small single brand outlets, counters as well as shop-in-shops to sell Esprit accessories.
The company's interest on accessories as a market segment has increased as it provides enormous prospects. The segment contains variety of products like watches, jewellery, eye wear and bags which, at present, add about 10 percent to the overall turnover.
Currently, there are 53 retail outlets in India where Esprit products are sold. Of this, 23 are exclusive outlets owned by the company and are located in 11 cities of India.
The company is taking into consideration the option of franchise route in order to expand the business. Esprit is a global brand that provides 12 product lines including kid's wear, men's wear, women's wear and accessories.
source:Fibre2fashion News Desk-India