Esprit Considering The Franchise Route For Further Expansion

Esprit Looking At Franchise Expansion

NEW DELHI: Aditya Birla group company, Madura Fashion and Lifestyle today said it will open exclusive outlets for fashion accessories range of the international lifestyle brand, Esprit.

Madura Fashion and Lifestyle (MFL) that distributes the brand in India plans to have ten points of sale for Esprit accessories by next year and is eyeing a total turnover of Rs 100 crore this fiscal from the entire Espirit range of products, including ap parel.

“We are planning to roll out a new format, exclusively for Esprit accessories. In the beginning of next fiscal the company will set up small mono brand stores, counters and shop-in-shops only to sell accessories,” Madura Fashion and Lifestyle Chief Opera ting Officer (Esprit), Ms Manjula Tiwari said.

To begin with about ten points of sale will be opened next year, she added.

The company’s focus on accessories as a segment has gone up as it offers huge opportunity. The segment includes products such as bags, eye wear, jewellery and watches that contribute about 10 per cent to the total turnover currently.

At present, Esprit products are sold at 53 retail points in India, including 23 company owned exclusive stores in 11 cities.

Commenting on the sales outlook for this fiscal, Ms Tiwari said: “We hope to cross a turnover (at retail value) of Rs 100 crore.”

The company is also looking to expand its reach by opening new stores for the entire range of Esprit products in the existing markets as well as entering smaller cities.

“As we go ahead we would spread presence in smaller cities as well. In the next three years the plan to make the brand available in thirty cities,” she said.

By the end of current fiscal, at least 4—5 new stores will come up around India, Ms Tiwari added.

The company that currently owns and operates all the existing retail points, is also considering franchise route to spread the business, she said.

Esprit is an international youthful lifestyle brand that offers 12 product lines encompassing women’s wear, men’s wear and kid’s wear globally.

Tags:Aditya Birla Group, Espirit, Espirit Franchise, Madura Fashion and Lifestyle, Madura Franchise, Manjula Tiwari, MFL Franchise, retail franchise, lifestyle Apparel Franchise, garment franchise

Source: PTI,The Hindu Business Line,Nov 14 2010.