Web Exclusive | April 2017
Lux to step into lingerie biz
Kolkata-based Lux Industries is planning to enter the woman’s lingerie category to drive better margins in the hosiery segment. The company will be extending its woman’s legging brand Lyra into lingerie and pitting itself against domestic players like Lovable in the mid-market segment.
Udit Todi, Sr VP, Lux Industries, told that, “Margins in lingerie are going to be more than the leggings category with almost an extra 400 bps. But it is going to be ä challenging category since it is fragmented with a lot of unorganised players.”
The company entered the woman’s segment with its Lyra brand about four years ago and had roped in actor Prachi Desai as its brand ambassador. It has set a revenue target of Rs 30 crore in the first year from the lingerie category.
The Rs 940-crore hosiery major already has brands like Onn and Lux Cozi in its portfolio and has been trying to build them with high-profile ambassadors like actor Shah Rukh Khan and former Australian cricketer Brett Lee in the innerwear and casual wear category.