ux Industries enters children’s clothing segment; also adds a new factory
Lux Industries Ltd., Kolkata is planning a big entry into the children’s segment!
With sales of Rs. 2,300 crore in 2021-22, the company expects to grow around 12 per cent and could reach Rs. 2,600 crore in current finances.
Saket Todi, the company’s ED, said that there is no national brand that caters to the children’s underwear market and therefore there is huge growth potential for the segment.
During a press conference, he said that the company is diversifying into the children’s segment as there are no pan-Indian players in this market.
The company, known for its men’s underwear segment, intends to expand the women’s range in order to diversify its portfolio.
Recently it invested Rs. 120 crore to set up a new manufacturing unit in West Bengal which is expected to start production later this year.
Lux Industries has also signed cricketer Sourav Ganguly as Lux Cozi’s brand ambassador and hopes to make Lux Cozi an Rs. 1,000 crore mark in the next three years.
The company is optimistic about the growth of the mid-premium to premium brand Lux Cozi and aims to create a deeper connection with its consumers through this collaboration with Sourav Ganguly.