Lux Industries Onn brand forays into women’s, kids segment for growth

By

Maverick Martins

Published
Oct 17, 2017

​Lux Industries Ltd, a company specialising in men’s innerwear with brands like Cozi and Onn, is looking to boost growth with a foray into the women’s and kids segment via Onn.
 

The company has been catering to the men’s segment in India since its inception, offering premium innerwear and casual wear brands. The brand has now ventured into newer categories and segments to improve margins of the company.
 
The company has now launched thermals for women and kids under Onn brand and expects the new segments to contribute around 15% to the company’s overall sales in the next 2-3 years.

"We are focusing on our premium brand Onn to improve margins. We have ventured into thermals for women and kids under ONN and if we get proper acceptance, we may venture into more range," Lux Industries senior VP Saket Todi was quoted as saying by a news agency PTI.
 
Currently, Onn contributes 10% to the company's topline but with new product categories and expansion, the same is expected to grow to 15% in 2-3 years, Todi said.
 
Lux Industries Ltd has posted a 60% rise in net profit at Rs 16 crore (approx $2.5 million) for the quarter ended June 30, 2017, compared with Rs 10 crore (approx $1.6 million) in the same period last year. Total income from operations was up by 43 per cent at Rs 260 crore (approx $40 million). Its EBIDTA stood at Rs. 32.32 crore (approx $5 million).
 
The Lux Onn brand is endorsed by Bollywood actor Shahrukh Khan. Actors Varun Dhawan and Parineeti Chopra also endorse Lux sub brands Cozi and Lyra respectively.
 
Lux industries brands are retailed in more than 450,000 stores across India. The brand also has a strong online presence on popular e-commerce portals such as Snapdeal, Flipkart and Amazon, apart from its own website.