Benetton aims for Rs 200 cr turnover from Undercolors, 20 new stores
Benetton India is aiming to hit Rs 200 crore in turnover from its innerwear brand Undercolors, which is a strong focus area for the company in the coming years, said a top official of the company.
The company will also open 20 exclusive Undercolors stores by 2017, according to a report in the Economic Times.
“Innerwear is going to be our next big business for next 5 years,” said Sundeep Chugh, CEO, at Benetton India.
The company said, they have sold over 15 lakh innerwear pieces last year.
Moreover, Undercolors plans to foray into the women’s lingerie segment. The brand wishes to provide a top wear (bras) with a fresh look to the innerwear market.
The offerings focus on product styling, quality, bold use of colors and crisp pricing as the core of the product strategy.
Undercolors was launched in 2012, a year after Chugh joined Benetton India office as Commercial Director. Undercolors brings a range of premium adults, kids innerwear, loungewear and socks.
The company which started its journey in India in 1992 in a JV with DCM Group, is now a fully owned subsidiary of Benetton Group, Italy.
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