Luxor Writing Instruments Pvt Ltd is foraying into retail sector by launching stationary outlets. Initially, the outlets, owned by the company, will be launched in the metros, before going for franchisee system.
"We are still in the process of signing the location. The picture will be clear in two months. From north India we will expand the retail outlets to the rest of the country," said Arvind Krishnan, general manager, (business operations), LWIPL.
The company is eyeing both high-end malls and stand-alone outlets for the stores. The outlets would cover products manufactured under the LWIPL from Parker, premium French brand Waterman, Luxor and Pilot brands. Also, a new designer collection of ink and ball pens Louis Charron would be launched soon by the company.
"In order to boost the network, focus has shifted from stationary shop to non traditional outlets such as gift shops and hi-end consumer retail outlets," said Krishnan.
The company recorded a turnover of Rs 160 crore (Rs 1.6 billion) and was looking at 25-30 per cent annual growth. Parker, in which products fall in the range of Rs 70-35,000, including the Parker Premium range of Duofold, Sonnet and Rialto among others, contributed Rs 70 crore (Rs 700 million) in 2004-05 said Krishnan. The company is targeting Rs 100 crore (Rs 1 billion) turnover in 18-24 months.
As a part of tenth anniversary celebrations of the Parker brand in India, the company showcased the Parker heritage in the first road show launched in the country from Chandigarh. From here it would go to Delhi, Mumbai, Chennai and Bangalore.
"After Delhi, Punjab is the strong market, contributing 6-7 per cent to the national sales, It can be attributed to the affluent society and fashion conscious customers," said Krishnan.Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Discussion Group