Lux Cozy eyes 800 crore revenue from Pynk in 5 yrs
Kolkata:
Lux Cozy
, one of the leading
men's knitwear
and textile brands, is hoping that
Pynk
, the women's wear brand from its stable, may touch Rs 800-crore mark in the next five years. The group is also eyeing the Rs 1,000-crore mark for its mother brand, Cozy, soon.
Lux Industries executive director Saket Todi told TOI that Pynk would be formally introduced nationally from May 1. Todi said Pynk saw a soft launch in Kolkata, Ahmedabad, Mumbai, Pune, Varanasi and Jaipur in Jan, which generated a good response. "Now, we will go for a formal introduction. Pynk will have a presence in both core and fashion segments," he added.
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According to Todi, in the first 12 months of operation, the group is eyeing Rs 125-130 crore revenue from Pynk. This is likely to reach Rs 280-300 crore in the second year. "We are looking at Rs 750-800 crore by 2029-30. This is our blueprint as of now. For this, we are confident of a healthy double-digit CAGR for the next couple of years. We are planning 200 distributors for this brand," he added.
Pynk would be the first
women's fashion wear
brand available in the general trade category, Todi said. "There are a lot of women's fashion wear brands, but they are in organised retail. Our target is general merchandise. The price point for the brand would be Rs 500-1000, which would be the most moderate option in this category," he added.
Todi said the company would spend Rs 23-25 crore on promotion and has roped in Shraddha Kapoor as Pynk's brand ambassador. "The promotional spend would remain the same in the second year as well," he said. Commenting on Cozy, he added that it would be the first mid-premium brand in its category in the country to touch the Rs 1,000-crore mark.
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