Brands
Allen Solly targets to become Rs 1,000 crore brand by FY16
KOLKATA: Allen Solly, part of Aditya Birla Group’s Madura Fashions, aims to be a Rs 1,000 crore brand by the end of next fiscal FY2015-16.
“In FY15, we are looking at Rs 800 crore topline from Rs 550 crore in the previous year,” Allen Solly COO Sooraj Bhat, said in Kolkata.
Allen Solly ranks third in terms of revenue among the seven to eight brands that the company owns in fashion and lifestyle segment, he further said, when asked about the position of the brand Allen Solly in the whole kitty.
Bhat said the new sub-brand Solly Sport had partnered with Wimbledon for exclusive marketing casual-wear line. He added that in FY15 the brand is expected to generate Rs 40 crore revenue and over the next three years it will expand to touch Rs 200 crore.
The company said that it will not resort to discounts and bargains to push volumes, adding that online accounts for just four per cent of topline.
The company has 207 exclusive stores and proposes to add 50-odd stores in the next year.
