Shloka scouting for Italian brand to launch designer suits

Men’s ethnic wear brand Shloka best known for its high end kurta pyjamas, are now foraying into men’s sherwanis. The brand is launching a top end sherwani collection for autumn/winter 2010. “We have been doing sherwanis for a select clientele for sometime. But after test

marketing our new line, we will fully launch sherwanis and designer suits by autumn/winter 2010,” says Nikhil Khimshia, Director, Nem Creations. The brand plans to introduce 40 to 45 designs in sherwanis priced between Rs 10,000 to Rs 40,000. It’s also planning to introduce a kurta pyjama range for children this summer. “In the kids range, we will be focusing on 0 to 5 year olds initially. Later, we will go up to 14 year olds.” Khimshia explains.

He feels with the popularity of TV soaps, ethnic wear has undergone a change. The ethnic wear market which is around 15 to 16 per cent of the Indian men’s wear segment has evolved in the past 4-5 years with many brands coming in. Earlier it was looked at only as occasion wear. But now people wear it for occasions as well as evenings. “Ethnic does not only mean embroidered garments. It is available in lighter products also. Even on Sundays people prefer to wear linen kurtas over denim,” he explains.

Khimshia says he is planning to get into a joint venture with a specialist suit brand from Italy. “We are looking for a brand who can serve the upper middle segment in India. The label should be both fashionable and affordable,” he informs.
On the retail side, Shloka plans to launch its exclusive brand outlets by 2012-13. “We are currently supplying to 450 MBOs and will add 100 more by the year end. We are in talks with Pantaloon and Westside and hope to start selling there by mid 2011. These will be shop-in-shops with an area of 300 sq. ft.,” says Khimshia. The brand is also eyeing expansion to Tier II cities like Indore, Hyderabad, Lucknow and cities in Andhra Pradesh. “We are looking at an average 400-500 sq. ft. retail space,” he says. Initially, the plan is to launch 4-5 stores which will be company owned and managed. But after looking at the response they plan to look at franchisees to expand their network.

Meanwhile, Shloka is also working as an outsourcing centre for stores in UK, US, Canada, Singapore, Malaysia, Sri Lanka, Bangladesh and Australia. By 2012, the brand is planning to set up its own exports division to handle exports directly. With a turnover of Rs 3.5 crores last year, Shloka is looking at closing this financial year at Rs 4 crores. “With one product line kurta pyjamas we have been registering a 25 to 30 per cent growth year-on-year. After adding sherwanis and designer suits, we estimate a growth of 100 to 120 per cent for the next financial year.” Khimshia sums up.