Louis Philippe to float LP Sport stores

Formal wear maker Louis Philippe from the stable of Madura

Fashion & Lifestyle plans to launch standalone stores for its sports and casual wear sub-brand LP Sport. As per the plans, the new entity will have around 40 stores by the end of this fiscal. LP Sport, at present, has six standalone stores – three in Bangalore, two in Delhi and one in Ahmedabad.

Launched in November 2007, LP Sport was previously marketed through Louis Philippe stores as a sub-brand for a target audience of 20-30 years age group. The brand’s product portfolio consists of T-shirts, casual trousers, jackets, denims, accessories (belts, wallets) and footwear (loafers, casual shoes). The average retail price of an LP Sport product is around Rs 2,000.

On an average LP Sport witnessed an annual growth of nearly 50 percent last fiscal, while Louis Philippe grew at 23 percent. LP Sport, with a turnover of Rs 300 crores in 2012-13, contributes around 30 percent towards Louis Philippe’s total turnover (expected at Rs 1,000 crores). The company is exploring options to re-align some smaller Louis Philippe stores (of around 1,000 square foot or more) as LP Sport stores.