Tuesday, 6 March 2012

Louis Philippe Planning for Big space in store to increase Growth

Madura Fashion & Lifestyle’s premium mens wear brand Louis Philippe is opening large format flagship stores, almost four times bigger than the existing ones, as a part of new branding initiatives.

A division of Aditya Birla Nuvo, Madura Fashion & Lifestyle has already set up a new 10,000 square feet store in Chennai. “We are opening large format flagship stores in crucial locations such as metro cities that will enhance the look and feel of the brand for customers. In the next financial year, we will open 6-8 such stores,” said Jacob John, brand head, Louis Philippe.

He said while the average size of an existing store is between 2,500 square feet to 3,000 square feet, the new flagship outlets will be spread across around 10,000 square feet area.

Besides the large format stores, the company that currently has over 100 stores across India, plans to add 40 new stores each year. “The expansion will be through an equal mix of company-operated and franchisee operated stores,” John said.

Asked about the investment required for expansion he said: “Per square feet investment is estimated to be around Rs 2,500.”

For the year ending March 2012, Louis Philippe is expected register turnover of around Rs 900 crore at retail prices, he added.
Louis Philippe has been undertaking new branding initiatives and has recently associated with golf. Inspired by the success of league-based tournaments featuring city centric teams, the brand has launched Louis Philippe Cup for golf in partnership with Professional Golf Tour of India (PGTI) and Rishi Narain Golf Management.
http://www.mydigitalfc.com/news/louis-philippe-looks-larger-stores-growth-114

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