Lux Group looks to merger and consolidation

The Lux Group may merge two of its firms, Ebell Fashions and JM Hosiery. JM Hosiery owns the brand Gen X while Ebell Fashions owns the women’s leggings brand Lyra. Both brands worth Rs 350 crores. Lux Industries owns 16 brands including the Rs 650 crores brand Lux Cozi. Cotswool and ONN collectively generate about Rs 300 crores.

The company is aiming for a turnover of Rs 2,000 crores by 2020. Right now Lux is a Rs 950 crored brand. Meanwhile it has signed up Bollywood star Varun Dhawan as it brand ambassador. The brand would be also adding more manufacturing units to its present inventory. With manufacturing units in Bengal, Ludhiana, Roorkee and Tirupur, one more, 30,000 sq ft, is coming up at Ghaziabad.

Lux is known for its innovative and customer-demand driven product offerings. It manufactures more than 100 products across 12 major brands, comprising a complete range of innerwear for men, women, and children. Kolkata-based Lux is based is growing its legging business by 50 per cent a year and currently Lyra commands a market share of 38 per cent in the mid to premium segment. Lyra clocks a turnover close to Rs 150 crores and would now be expanding to women’s lingerie and loungewear.