priced Salsa range may hit stores
Indoor soccer cleats the company has plans to target the youth, primarily young women, in a big way, with an economical range of leather products
Pondicherrybased fashion label and leather accessory manufacturer Hidesign may launch its lowerpriced Salsa product line by October. Targeted at the youth and primarily young women, the range will initially comprise hand bags and fashion accessories.
Hand bags account for 55 per cent of Hidesign s sales at the moment. Therefore, it’s hardly surprising that the company has opted to start its new line with this category.
Briefcases, which was the hottest product category for Hidesign in its initial years of operation in the late ’90s, now makes up merely 25 per cent of the company s sales, while allied accessories such as key chains, wallets, belts are last in the pecking order.
Price points of Hidesign products vary from as low as Rs 80 for a key chain to Rs 1,500 for a handbag and Rs 3,0003,500 for an office bag or a brief case.
Women consumers have been driving the business in recent years, and the company intends keeping the focus on them with new designs, styles etc.
Earlier men were the drivers for us, with briefcase sales amounting to about 65 per cent. Over the years, however, women have emerged as an important growth engine, and we would like to capitalise on this, says Sachdev.
It is this need for growth that has propelled Hidesign to not only consider indoor soccer cleats the economicallypriced and trendy nike soccer footwear Salsa, but also look at an elaborate expansion into smaller cities with new retail stores. Currently, Hidesign has 26 exclusive stores across Mumbai, Delhi, Kolkata, Chennai, Goa, Bangalore, Hyderabad, Pune, Cochin and Coimbatore.
Plans are to scale up operations in areas such as Ludhiana, Baroda, Surat, Nagpur, Guwahati and Lucknow, and launch some 44odd stores in the next three years. Of this, some 20 stores would be franchiseeled, while the rest will be managed by the company. We indoor soccer cleats are looking to cap the number of stores managed by us to about 50, says Sachdev.
The investment set aside for the expansion into smaller towns/cities is about Rs 67 crore. This amount will be sufficient to just set up the physical stores. Overheads such as hiring and training of staff are not included in this amount, indoor soccer cleats he says.