Premium apparel brand ‘Allen Solly’, which has been growing at a CAGR of 34 per cent since the last three years, is eyeing sales of Rs. 1,000 crore for the 2015-16 fiscal. The brand which posted revenue of Rs. 600 crore in fiscal 2013-14, hoped to touch Rs. 800 crore in the current fiscal, according to a report.
Women’s clothing accounts for 18 per cent, kids wear 7 per cent, exports 5 per cent, while the rest of the turnover of the garment brand is accounted by the menswear segment.
Allen Solly has also tied up with tennis grand slam tournament Wimbledon and will market Wimbledon related merchandise like apparels and other products in India through Solly Sport, launched in 2013-14.
It also unveiled its Wimbledon merchandise with a menswear collection recently and planned to launch womenswear and kidswear collections by April 2016. “The brand hopes to garner sales of Rs 40 crore from Solly Sport this fiscal and expects it touch around Rs 200 crore over the next two years, primarily from its association with Wimbeldon.”
Despite the disruptive and rising factor of online apparel sales, majority of sales at the brand came from its retail store network. The brand nearly doubled its store count in the last two years and currently operates 207 exclusive outlets. It expects to add 40-50 stores each year, with a focus on tier II and III towns and cities.