Lovable to open EBOs starting with Mumbai and Delhi

Popular among women for its premium lingerie range, Lovable enjoys a market share of around 20 percent in India. The brand is growing at 25 percent a year and over the next three years it plans to push the growth rate up to 35 percent. In February, this year private equity arm, Nalanda Capital

increased its stake in Lovable from the earlier 5.06 percent to 8.79 percent by acquiring 1,476,812 shares. This may work in favour of the brand, which is looking at charting out growth plans by expanding retail reach.

EBOs in Delhi, Mumbai in pipeline

Lovable is available at 1,800 MBOs. “This year, we will add another 300 stores. Soon we will also open exclusive brand outlets starting with Mumbai and Delhi. In the first phase, we will launch 12 EBOs and then add another 100. We also have considerable presence in Tier II and III cities,” says Ashok Reddy, Director, Lovable Lingerie.

Reddy believes large format stores have helped the growth of lingerie industry. “Now there are 300 to 400 large format stores that have provided enough space for premium undergarments. Consumer awareness about the premium segment has also grown now. Social media and television have fostered awareness. Internet has brought the world closer and what is available in the foreign markets is now also available in India,” he exclaims.

New offerings for the A/W’14

For Autumn/Winter, the brand has introduced new colours and styles and also a collection of functional bras, for the first time in India. A part of Maxwell Industries that was incorporated in 1987, Lovable Lingerie is one of India’s leading women’s innerwear manufacturers, producing brassieres, panties, slips/camisoles, homewear, shapewear, foundation garments and sleepwear products. The company has six factories including a subsidiary and own units with a capacity to produce 3,000 dozen brassieres a day. This includes mass and premium products.

Positioned as a premium brand of women’s undergarments, it’s targeted at youthful and active women in the age group 18-35 years. As a part of its growth strategy, it acquired Daisy Dee from Maxwell Industries, to cater to the mid segment in India and College Style from Levitus Trading, Hong Kong, to cater to the younger age group. The company has also in the past marketed the Vanity Fair brand of women’s innerwear garments.