Lux Industries look to tap international markets for growth

By

Maverick Martins

Published
Oct 27, 2017

Lux Industries Ltd, is a leading brand in innerwear in India is planning to foray into international markets by partnering with global brands for growth, said a top company official.
 

After posting strong results in the last quarter Lux industries is looking to further consolidate its market position in India and has expanded its product portfolio to tap into the women’s and kids segment.
 
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 with a total income of Rs 260 crore (approx $40 million).

To further improve margins the firm is now all set to partner with foreign brands and enter the global market.
 
"The company is at an advanced stage of negotiation and looking at finalising licensing agreements with foreign brands very shortly," Lux Industries senior vice president Saket Todi was quoted as saying by a news agency PTI.
 
“We are looking at more export orders from brands. The integrated facilities at Dankuni will be leveraged to meet both domestic and export demand”, Saket Todi added.
 
Lux industries have some of India’s leading Bollywood actors endorsing the company. Shahrukh Khan endorses its premium innerwear brand Onn while Amitabh Bachchan is the brand ambassador for brand Venus and Cott's. Varun Dhawan and Parineeti Chopra also endorse Lux sub brands Cozi and Lyra respectively.
 
Lux industries offer products to men, women & kids. Their brand is retailed in more than 450,000 stores across India and also has a strong online presence.