Louis Philippe to open exclusive LP denim stores

Fashion United
2 April 2014

After receiving an encouraging response to its denim brand LP Jeans priced Rs.2,000 to Rs.5,000, Louis Philippe now has plans to launch exclusive stores of the label. It is looking at opening 10 exclusive LP Jeans stores this year and about 30 odd stores over the next three years. LP is present in multi-branded outlets like Shoppers Stop, Lifestyle and Central. The company will have exclusive LP jeans counters and exclusive LP jeans stores will follow that. LP's line of denims is expected to earn Rs.50 crores for the brand this fiscal year.

A part of the Madura Fashion &Lifestyle stable, Louis Philippe contributes 30 per cent to the overall turnover of the company. Now with a year-on-year growth of 25 per cent, the company is looking to a turnover of Rs.1,200 crores in FY 2013-14. The brand is currently present in 100 cities and its retail plans include opening stores in 100 more towns in this and next fiscal. Also on the agenda is adding around 40-50 stores every year, apart from expanding presence in the Tier II cities.

The new Louis Philippe stores would be a mix of company owned and operated (COO) and franchise owned and operated (FOO) stores. The ratio between COO and FOO would be around 30:70. The company added around 80 outlets in the last two years. It also wants to increase exports from India, which is around five per cent of its total production now.