Allen Solly unveils new brand identity
Nov 07 2012 , Pune
“We are opening over 20 new stores with our new retail identity across India in metros and tier-II cities to cash in on the festive season,” Sooraj Bhatt, brand head at Allen Solly, told Financial Chronicle. He said Allen Solly, which created a niche for itself with its work casuals brand, has transformed the way people dress to work by bringing in the concept of relaxed formal wear to India. These are bold and bright colours, concepts and patterns, he said.
The company unveiled its new stag logo and the new retail identity, which it claimed is modern, contemporary and international in look and design at its 2,000 sq ft flagship store in Pune on Wednesday. “It is in keeping with brand’s strong Nottingham heritage, wherein lies the brand’s root and its casual British lifestyle,” Bhatt said. The new classy look and design elicits a character with a distinct feel of different sections such as men, women, causal and work, he said. He said the new stores look like an aesthetically designed house than a store. Allen Solly competes with United Colours of Benetton, US Polo and Tommy Hilfiger in the Indian market.
He said till date the company had renovated eight of its flagship stores with its new retail identity. At present, it has a total of 140 stores across India ranging from 600 sq ft to 3,200 sq ft stores, a mix of 50:50 company owned and franchisees. By the end of December, the store tally will add up to 160, he said.
“Last month, we opened one store each in Agartala, Delhi and Bangalore. This month, we will open new stores in Nagpur, Nashik and Mumbai,” Bhatt said. He said depending on the location, the investment in interiors cost between Rs 15-50 lakh for each store.
“The apparel range includes shirts, tees, trousers, winter wear, jackets and suites for men and dresses, tops and tunics, shirts and trousers and suites for women for all occasions with a minimum price tag of Rs 1,000 up to Rs 12,000,” Bhatt said. He said annually small stores clock sales revenues of Rs 80 lakh – Rs 1.2 crore and flagship stores up to Rs 4 crore.
He said the newly opened stores and renovated stores were registering 25-35 per cent growth since last June. Bhatt said the premium apparel market size in India was pegged at around Rs 5,000 crore per annum and growing at 15 per cent year-on-year. Last financial year, Allen Solly clocked sales turnover of Rs 500 crore and this year it is targeting over Rs 600 crore.