In order to extend its multi-channel footprint and increase exports, Lux Industries intends to enter more markets and geographic regions.
The market leader in men’s innerwear is trying to increase the number of women’s and children’s athleisure and outerwear products in its product line. In 2021–2022, the business recorded a turnover of almost 2,300 crore.
Now, Northern India contributes for up to 34% of total sales, with Eastern and Western India contributing close to 23% apiece. According to the company’s investor presentation, it wants to increase its footprint in South India, which presently accounts for around 4% of its overall revenues.
The company’s products are currently offered through a network of 1,170 dealers. nine EBOs, as well as more than two lakh multi-brand outlets (exclusive brand outlets). In the next three years, it wants to generate $100 crore in income from online sales.
Currently, exports make up around 7% of the company’s overall revenue, and in five years, they are expected to increase by 60%.
Plans are in motion to expand its presence to 60 nations by 2025 from the existing 46 countries.
Accentuate premium
The business wants to sell more premium goods as a percentage of all sales. Up till last December, it generated 246 crore in sales from premium products, and by the end of the current fiscal year, it hopes to reach 500 crore.
The percentage of value’s sales revenue (economy) segment decreased from 32% and 50%, respectively, during the same time last year to 28% and 46%, respectively, in value terms up until December 2022.
The semi-premium and premium segments, on the other hand, have been expanding year over year, with the sub-premium segment’s share increasing to 57% (55%) in value terms and 43% (40%) in volume terms over the course of the period and the premium segment’s share increasing to 15% (13%) and 11% (10%), respectively.
With One8, Lux recently entered the luxury market with a product portfolio that included sleepwear, loungewear, and innerwear. The company, which has recorded sales totaling $19. By FY25, the predicted growth of crore year-to-date through December 2022 is expected to be close to 106 crore. Virat Kohli has been appointed as the brand ambassador.
