Yankees expects price correction due to excise removal

The removal of excise duty on readymade garments has gone down well with brand Yankees. It expects to take advantage of the removal of duty and also of the overall positivity in the industry. “Since stocks are depleted, there will be

good orders. Also winters should arrive on time and be of some intensity. We would like to grow by 25 percent by March 2014. Some price correction of about three percent is also inevitable because of excise withdrawal. This would have been more if raw materials were not so expensive,” opines Amit Sabharwal, Director, Yankees Knitwear.

Elaborating on the trends and styles that would work this winter, Sabharwal says, “Since winter has a trend of arriving late, I think sleeveless or Nehru jackets will play a major role this time since they are fashion products. They allow free body movement. A Nehru jacket can be worn to a party or as routine wear. Sleeveless jackets are worn by women too. Cotton or nylon sleeveless jackets are also in. This year jackets will have bright colors and innovative designs.”

Yankees was launched in 1979 and it started with T-shirts, tracksuits, windcheaters and jackets. “We supply these to Maharashtra and the South. We were not present in the North at all. In 2000, we focused on jackets and casual coats. That was when we decided to focus on the North. This was a challenge. The first year was a blank as no bookings took place. Gradually, I understood the market and began to establish myself. Now we have come a long way,” Sabharwal explains talking about the brand’s journey so far.

Now Yankees collection is retailed in: Uttar Pradesh, Delhi, Punjab, Jammu Kashmir, Chandigarh, Madhya Pradesh, Chhatisgarh, Rajasthan, Haryana, Uttaranchal and Northeastern India. “We want to add Bihar to our network. We are in 400 MBOs including StanMax, C&M, Goenka, Bindal and Biglife Ritu Wears,” he adds.

The brand manufactures jackets and casual coats for men. While sleeveless jackets sell between Rs 1,795 to Rs 2,395, other jackets are in the price-band of Rs 2,495 to Rs 3,295. The target age group is 20 to 50 years. Sabharwal says that in future he may introduce a range for teens.