International lingerie brand Triumph, which is available in India through 500 multi-brand operators (MBOs), retail stores and franchisee stores, has embarked on a major expansion plan, to reach out to more consumers in the metropolitan cities reports Business Standard.
The company planned to have its presence in at least 200 stores this year.
“The brand consciousness for Triumph is high among Indians. Much before we entered India in 2002, Triumph lingerie was available in the grey market. Our experience in the last four years has been good. By the end of this year, Triumph will be available in 20 more stores. Next year, 50 more stores will sell Triumph lingerie,” Triumph International India country head Thorsten Allenstein told Business Standard.
Though Triumph is available in 51 cities, only around six metropolitan cities are driving the growth.
“In fact, Mumbai, Delhi and Bangalore are our leading markets. Since more malls are coming up in these cities, we expect more growth from them,” he pointed out.
“The projections for this year is 200 new malls and stores. Unfortunately, so far, only 26 projects have been commissioned because of which we are unable to meet our expansion plans for the year. Besides, dedication of space in malls is one of the biggest constraints for growth,” he stated.
According to Allenstein, Triumph lingerie enjoys a brand share of 35 per cent to 40 per cent in India.
“We expect a steady growth since we cannot have exclusive stores. In case the government opens up foreign direct investment in retail, we will come in a big way. For instance, in China, we have 500 exclusive stores. India has a great consumer base which we intend to leverage,” he said.
At present, Triumph has introduced 70 styles in the Indian market. “In fact, we have over 1,000 styles in other markets. We will increase the number of styles gradually. In the next six months, the number of styles will reach 130,” he said and added that the price range may go up to Rs 1,500 to Rs 2,000 from the existing Rs 900.
The company plans a complete export-oriented unit near Chennai for which it has acquired land.