Hakoba Lifestyle Ltd has launched a new brand with designer Rocky S under the name of Rocky Club.
Targeting the youth with its new designer-led brand, Hakoba is expecting the line to generate revenues to the tune of Rs 75 crore in the next three years.
Madhup Dokania, CEO, Hakoba Lifestyle, said: “Hakoba’s key focus has always been womenswear in the apparel market. However, we now plan to expand the business by venturing into new product segments under different brand names targeting the lower, medium and higher segments of the society.
“We’re now venturing into a new segment called Club & Fashion, and have tied up with renowned designer Rocky S for the Hakoba Club line called Rocky Club.”
Refuting the argument that associating with too many corporates will not cause a clash in his collection being offered, Rocky S asserted, “As a creative person, I know I need to expand my fashion into different aspects and I cannot do it myself. Tying up with a corporate house is completely justified because being a creative director, I can do my work and the corporate people can take care of the entire business. As a designer I am not capable of doing business. I am a creative person, I am good at creating things; but I have realised that most of the designers want to take over everything, from marketing and sales, to advertising, production and management, and at the same time do creative work. It is always better to tie up with a company that has already established itself in doing business and in retailing.”
The well-known designer reflected, “There is a gap in the market as the designer and multinational brands are too expensive, and local brands are not as trendy and stylish. Hakoba by Rocky S has been launched to fill in the gap.” Rocky Club will have garments pegged between Rs 800 and Rs 3,000.
Apart from the tie-up, Hakoba lifestyle Limited plans to invest Rs 250-260 crore in various segments like home furnishing, lingerie, value retail and designer associations by the next financial year. The company also plans to open another 35 exclusive Hakoba retail outlets. Further, the number of small retail stores is expected to reach 110 in the next financial year. Hakoba will come up with large-format stores of 40,000-60,000 square feet by 2009. The first large-format store is expected to open at Coimbatore by March 2008. For the fiscal ending March 2008, the company is looking at a turnover of Rs 65 crore, and for FY’09, it is expecting a turnover of Rs 212 crore.
– Bengaluru Bureau, and Zainab Morbiwala, Mumbai Bureau