Lacoste India to double point of sales presence by 2021
France's Lacoste plans to double its 50 point of sales by 2021. The apparel brand, know for its crocodile logo, said it will be targeting more premium malls and adding around 8 new point of sales in the Indian market by the end of the year.
Lacoste India currently receives online sales on the company’s portal, and has set up exclusive boutiques in malls and high streets, as well as shop-in-shops with demarcated areas. The target this year is 15-20 per cent growth over last year, Lacoste India to the Business Standard.
“Barring the brief period of the past one and a half to two years, our growth has been very high in India,” Rajesh Jain, managing director, Lacoste India, told local media.
“Offline, we follow a selective distribution network. Every new point of sale is carefully selected, as we are bottomline-conscious. In a year, if we open eight to ten new doors or point of sale, it is considered an aggressive expansion for a brand like ours. We are again on expansion mode; last year, we opened seven new point of sale,” he said.
The company is focusing more on malls, as shopping behaviour patterns show customers prefer a one-stop shop environment for all retail and entertainment needs.
In June, Lacoste India launched an online store, catering to a wider consumer base in tier 2 and tier 2 cities where the company is not physically present.
Lacoste India sells products across eight categories, with apparel being the largest. In India, the men's polo range accounts for a little more than half of Indian sales. Lacoste also sells footwear, perfume, watches, sunglasses, leather goods and home linen.
Copyright © 2021 FashionNetwork.com All rights reserved.