Lombard India Unveiled Its Plan to Invest Around Rs.1 Billion for Expansion

Marking its entry in premium men’s fabric segment, Lombard India, a Future Group company, unveiled its plan to invest around Rs. 1 billion over the next one year for expansion, Economic Times reported.
 
Speaking to PTI, Lombard India President Ashwani Misra noted that there are hardly a couple of players in men’s premium clothing segment, and Lombard eyes penetration in this space as a great business opportunity.
 
The company, which presently vends its readymade garments through Future Group Formats like Indus League and Central, looks forward to start 50 standalone outlets and also collaborate with 750 multi-brand stores to sell Lombard’s premium suiting, shirting, readymade and accessories range.
 
The standalone outlets offering products like wool, linens, poly suiting and cottons, poly viscose and linen blended poly/viscose fabrics, would be set up in high-street stores at premium locations, Mr. Misra said.
 
The company also plans to engage other brands like Reid & Taylor and Raymond to tap the Rs. 20 billion worth men’s formal wear market and would use its holding firm Future Group’s plants and machineries to undertake production of fabric as well as apparels, he added.
 
Commenting on the sales forecast, he said they are eyeing to achieve a turnover of Rs. 5 billion over next 3-4 years.