Lovable Lingeries, a part of Maxwell Industries, owned by Rs. 350 crore VIP Group, is foraying in the retail business with plans to open as many as 125 exclusive lingerie shops across the country. Maxwell, it may be recalled, had bought “Lovable” Ligerie Brand from Sara Lee of the USA in 1995.
Additionally, Maxwell will also have non exclusive multi product, multi brand, combo stores, which will also sell jeans and under garmements. Maxwell may also offer a few international fashion brands with whom it is already having negotiations. The first combo store of the company will become operational in Mumbai in early 2007. Maxwell has hands-on retailing experience as it is already operating 15 exclusive shops selling its Live-In jeans in southeren parts of the country.
Given the choice Maxwell will prefer franchisee route. However, as an alternative, it may also partner with developers of Malls. To finance its expansion plans Maxwell is looking at raising Rs. 300 crore in equity and debt.