With a desire to be a complete lifestyle brand, Oxemberg is looking at increasing its product range. The brand is also keen on retail expansion. Prasad Shetty, President (Sales & Marketing), Siyaram Silk Mills says, “We will launch new products for
men’s wardrobe and will add lifestyle accessories in Oxemberg. By spring 2012, we may have T-shirts also.” For the forthcoming festive/winter season the brand will be offering a range of sweaters and winter jackets. Shetty says, “This winter collection has been made especially for our exclusive outlets and large formats. In sweaters, we will have 30 to 40 options. Jackets would have 25 options.” Jackets are priced between Rs 2,000 to Rs 3,700. Sweaters would range from Rs 1,000 to Rs 2,500.
The brand which has grown at 25 to 30 per cent is aimed at the younger 23 to 35 year olds. Oxemberg also has a wide array of sub-brands like Beach Pebble which includes a semi-formal range. Then there’s Opulent with international styling and design which has been well-received. It’s 100 per cent cotton and fulfils the demand for a premium shirt. After 8 is an occasion wear brand. Contradictions, offers a young formal range. Oxemberg offers accessories like ties in its product portfolio. It has a strong presence in more than 1,500 MBOs across the country. Shetty says, “We grow our MBO presence by 10 per cent every year. At the same time, we are consolidating and filtering MBOs. We are striking a deal with fewer MBOs for more business.”
The brand has a presence in around 100 large formats. Reliance and Central are the two major ones. “We are looking for further expansion in large formats in a meaningful way,” Shetty adds. The brand believes in opening stores in a sustainable business model. According to Shetty, Tier II and Tier III cities are progressing fast and the brand aims to expand in these cities. “Right now we have more than 83 stores. Our store sizes are 500 to 2,000 sq. ft. And a store sized 1,800 to 2,000 sq. ft. can be considered a flagship store. But smaller stores can be adapted to the needs of the market. If it’s a Tier III city with a good textile market, the store would have only textile merchandise. If the store is in a small mall, it will have one of our brands. We aim to take the store count to 200 in the next two years,” he sums up. With a turnover of Rs 170 crores they are looking for a minimum 30 per cent growth in the next two to three years.
