Owned by MAS Holding, lingerie brand Amante is already doing about Rs 50 crores turnover in retail. “We have been growing at 30 to 40 percent year-on-year. We will hit Rs 100 crores in the next few years,” says Vivek Mehta, CEO, MAS Holdings elaborating on the India plans.
Aiming to be the No. 1 lingerie brand
is aiming to be the most preferred brand in the industry. “We have just acquired a UK brand called Ultimo. It’s a premium push-up category product. If young women in India take to the push-up category in a big way, we will bring Ultimo to India,” Mehta says.
The company is looking to create a portfolio of brands and want to spread Amante’s spread across South East Asia. The brand is present in India and Sri Lanka as of now and is exploring markets like Indonesia and Malaysia.
Spreading India footprint“About five years back we decided to launch our own brand in India. That’s the genesis of Amante in India. In premium lingerie we are among the top two or three brands in India.” It’s present in 400 MBOs and 150 large format stores across India. Large formats like Shoppers Stop, Westside, Central, Globus, and Lifestyle some of the well known names retailing the brand. Soon the brand is launching its first flagship store in Colombo. “It’s about 3,000 square foot. In 2014, we may open two EBOs in India. We are with online retailers too and expect this business to grow,” explains Mehta.
Amante is present in 40 Indian cities like Delhi, Mumbai, Bangalore, Hyderabad and Chandigarh. In future, the company will look at Tier II, III cities. Right now, most of Amante production is happening in Sri Lanka. Though the company has a couple of offices in India but they are making products for brands like Victoria’s Secrets and not for Amante yet.
“So far, Amante was a classy, fashionable and comfortable brand. We are working on the brand to add a little more glamor and sensuality,” avers Mehta.
Mehta says the lingerie industry in India is is about Rs 12,000 crores and it has a potential customer base of 400 million women. “Customers are upgrading from value or regular to premium products. The premium lingerie space is seeing a growth of 20 to 25 percent,” Mehta says.
Meanwhile Amante is also looking at adding more products to its basket. “We may have lounge wear, shape wear and even personal care,” Mehta informs, adding, “For winter, we have a new lace product called Euphoria. The colours reflect the mood of festive and wedding season.”
Amante is a Sri Lankan company with a turnover of over one billion dollars (over Rs 5,000 crores). It has 40 factories across Sri Lanka. Its clients include: Victoria’s Secrets, Marks & Spencer, Triumph, Speedo, Calvin Klein among others.