Future Group gives local push to lingerie biz
Kishore Biyani’s Future Group, better known for its Big Bazaar label, has made its second foray into the lingerie market, deepening its strategy to boost private labels.business Updated: Oct 22, 2009 21:53 IST
Kishore Biyani’s Future Group, better known for its Big Bazaar label, has made its second foray into the lingerie market, deepening its strategy to boost private labels.
In its first attempt, Future Group had a 50:50 joint venture with the Paris-based fashion lingerie retailer Etam, but is now adding an ethnic touch with its own private lingerie brand Mohena. The lingerie and nightwear rolled out from under the Mohena umbrella targets the mass market, with prices starting at Rs 295 for lingerie and Rs 449 for nightwear.
"There is a huge untapped demand for lingerie in the mass segment. Mohena is an attempt to reach to this sector through organised retail,” Atulit Saxena, chief operating officer, brands, at Futurebrands, a unit of the group, told Hindustan Times.
In its trial phases, Mohena expects revenues of Rs 7 to 8 crore in the first full year of operations and then double it every year in the next two years. With five products launched the company expects to be a Rs 20-25 crore brand by 2012 and penetrate 20 per cent of the mass premium market in the main metros over the next three years.
Mohena will be retailed from 11 Central Stores and 23 Pantaloons stores owned by the group in key cities by December.
Future group ended the Etam deal, though it has not disclosed the reasons for it.