Lombard India enters premium men's fabric segment

Future Group firm Lombard India has announced its foray

into the premium men's fabric segment and plans to invest Rs 100 crores in the next one year to expand footprint. The company plans to open 50 standalone stores and tie up with 750 multi-brand outlets to retail Lombard branded premium range of suitings, shirtings, readymades and accessories.

While Lombard will focus on men's clothing for at least next one year, the company also has plans to roll out a women's clothing line. It is targeting a turnover of Rs 500 crores in the next three-four years. Competing in the space against brands such as Raymond and Reid & Taylor in the estimated Rs 2,000 crores men's formal wear market, Lombard aims to leverage on Future group's plant and machinery to manufacture both fabric and apparels. The company will look at setting up standalone stores in high street shops in premium locations.

The product offering includes all wool, poly wool suiting, linens and cottons, poly/viscose blended with linen and poly viscose fabrics in the price range of Rs 246 to Rs 13,000 per mtr. Lombard currently retails its readymade garments through Future Group Formats like Central and Indus League owned formats.