Future Lifestyle Fashion banks on 'Power Brands' for future growth
Future Lifestyle Fashion (FLF) has identified six brands in its portfolio, which will give the company next stage of growth and profitability, it said in an investor presentation. The company is calling them Power Brands and together, are expected to constitute 65%-70% to own brand sales by financial year 2020, according to a report in the Economic Times.
The brands on which the company will put more focus are denim brand Lee Cooper, men's fashion brand John Miller, casual and sportswear brand Scullers, plus size unisex brand All, club wear brand Indigo Nation and women's fashion brand Jealous 21.
Lee Cooper, which has generated a revenue of Rs 320 crores in financial year 2017, aspires to be a Rs 1,000 crore brand, the company said without mentioning the time frame expected achieve this feat. John Millers, Scullers, Indigo Nation and All generated more than Rs 100 revenue for the company in financial year 2017, clocking total sales of Rs 120 crore, Rs 110 crore, Rs 110 crore and Rs 120 crore respectively. Only one of the Power Brand Jealous 21 has clocked less than Rs 100 crores in revenue at Rs 90 crores.
FLF posted 17.5% rise in net sales for fiscal ended March 2017 with sales of Rs 3877 crore during the year.
According to the company, FLF will focus on building Power Brands which can drive higher growth and profitability. The company will allocate resource and capital to grow these six brands to next level and there will be a dedicated team to drive these brands.
The company is focusing on high growth categories in the fashion space, it said in the presentation.
FLF expects Power Brands to grow twice as fast compared to other brands in its portfolio.
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