Peter England People to be India's favourite family brand, says Mr. Kumar Mangalam Birla
16th May, 2008
Launching the Peter England People brand at the first of it's kind, unique family retail store at Goregaon in Mumbai today, Mr. Kumar Mangalam Birla, Chairman, Aditya Birla Group said that our vision is to make Peter England People India's favourite family brand."
Addressing the media, Mr. Birla stated that the branded apparel business is a core business of the Group, operating as a division of Aditya Birla Nuvo.
Its evolution from a wholesale shirt-brand player to a wardrobe brand to a lifestyle brand retail led player has been truly remarkable. All of its brands - Louis Philippe, Van Heusen, Allen Solly and Peter England are leaders in their respective segments, launched under the umbrella of Madura Garments. They have over 250 exclusive flagship and concept stores all over India. Besides these, the brands are available in 500 multi-branded retail outlets spanning 50 cities in India. Madura Garments is India's largest apparel led lifestyle brands player and the most admired as well.
Mr. Birla avers, "Going forward, our vision is to be India's dominant fashion apparel retailer. Our plans are built on continuing the momentum of current brands, executing new growth initiatives and targeting select new opportunities. Our strategic architecture rests on five touch points. Firstly, providing end-to-end clothing solutions to customers, including accessories that strengthen our core apparel offering. Secondly, aggressively bolster our retail play. Thirdly, being present across price-points to cater to multiple segments. Fourthly, upscale our presence in the women's wear and youth segments. Fifthly, enter the children's segment. In sum, we plan to have brands straddling mass, premium, super-premium/luxury segments. To bring our vision to fruition, we have restructured the apparel business into three divisions which cater to the mass, premium, and super-premium/luxury segments".
Mr. Birla added that the fast growing apparel market and within it the increased share of organised retail offered unprecedented growth potential for organised players. The market for the apparel segment for organised players is guesstimated at Rs. 49000 crore and expected to grow to Rs. 1,30,000 crore in the next five years.
Detailing plans, Mr Birla informs, "Our goal is to reach revenues of US $ 1.5 billion in the next five years encompassing the mass, premium and super-premium/luxury segments. Our foray into the mass segment began with the Peter England brand. To capitalise on the opportunity to cater to the mid-priced segment for clothing, we decided to launch a retail play under the Peter England umbrella to cater to the entire family. This is the Peter England People retail brand - a brand that stands for fun, fashion and family personality. Our vision is to make Peter England People India's favourite family brand."
The objective of the Peter England People brand is to offer exclusive products with a signature style for the family at a great value, addressing the apparel needs of brand conscious working families in urban areas. The target customer group is the typical middle class family that currently shops in malls and organised retail stores.
Mr. Vikram Rao, business director, textiles and branded apparels, Aditya Birla Group, adds, "All Peter England People stores are designed to be a one-stop fun destination for the entire family stretching between 10,000 to 15,000 square feet. We are building a world-class retail organisation that changes the way people shop and dress. Our intent is to make the entire shopping experience a fun-filled, enjoyable process for the whole family - the husband, the wife and the kids - from men and women under 35 years to new born babies.
For Peter England People, aggressive growth plans have been chalked out with revenues in excess of Rs. 1300 crore in the next five years at an investment of Rs. 400 crore.
"Best-in-class infrastructure has been put in place to build Peter England People. The brand stands on three pillars: brand personality, merchandise authority and retail experience. The feeling of the brand is of happy contentment. It is redefining the idea of success. It is not about cutting edge, but about being secure, confident and relaxed with friends and family. We believe that the brands will be highly accepted by its target customers and it will be our endeavour to continuously improve to delight our customers" affirms Mr. Rao.
The Peter England People brand will be marketed through Peter England Fashions and Retail, a division of Aditya Birla Nuvo. Four more stores will be unveiled in Bangalore, Hyderabad and Delhi in early June. By the end of the fiscal year 2008-09 there would be 10 stores across different cities.
Mr. Aloke Malik has been named as President of Peter England Fashions and Retail and Ms. Zeena Freeman as the CEO of Peter England People.
For more information, please contact
Media Relations - Textiles & Apparels Business
Aditya Birla Group
Aditya Birla Centre
C Wing, 1st Floor S K Ahire Marg
Worli, Mumbai 400 030
Tel: + 91 22 6652 5163, 2499 5163
Fax: + 91 22 6652 5741, 2499 5741