Allen Solly eyes Rs. 1,000 cr sales in FY16, to open more stores.

Allen Solly, the premium readymade brand from Madura Garments owned by Aditya Birla Group, is eyeing a turnover of Rs. 1,000 crore in FY16.

'We should cross Rs 800 crore (in sales) this fiscal and touch Rs 1,000 crore next fiscal. We have been growing at 34% CAGR for the last three years and we intend to maintain that,' Allen Solly brand head Sooraj Bhat told PTI.
Last fiscal, its revenue stood at Rs. 600 crore.

Men's wear enjoys a lion's share of the Allen Solly revenue, with women's apparel constituting only 18% and children's wear 7%, he said, adding exports, mainly to the Saarc countries and West Asia, constitute 5% of the turnover.

The brand also has footwear, handbags and accessories, which contribute about 5% of sales.

On the just sewed up tie-up with the famed tennis grand slam tournament Wimbledon to sell men's wear, Bhat said 'it is a 10-year licencing agreement for Wimbledon merchandise through Solly Sport. We are the exclusive licensees for apparel and non-apparel for the Wimbledon line in the country. They are doing this only with us and only in India.'

BS