Springfield, a casualwear brand from Europe, opened its first outlet in Bengaluru.
Brought by Dubai-based Landmark Group, one of the prominent retailers in the Middle East and India, the brand has also opened an outlet in Mumbai in addition to the new store. The company plans to open 6 stores in the next 12 months. Meanwhile, its revenue target for the next two years is to the tune of Rs 70-75 crore.
“The Bengaluru store had a soft launch last week simultaneously with the launch of our flagship store in Mumbai. We plan to open around 20 stores in the next two years’ time, and by the same time we hope to touch revenue to the tune of Rs 70-75 crore. However, the immediate target is to open six stores across the major tier I cities in the next 12 months,” KA Madappa, vice president, Retail, LMG Brands, told Indiaretailing on the sidelines of the store launch.
Springfield has launched its menswear and accessories in India. The brand recently launched its line of womenswear internationally, and will be getting it to India after a couple of seasons. “Considering that the space in our existing store is so small, we will have to see which would be the best way to give a good display to our range of womenswear,” Madappa admitted.
When quizzed about the competition across casualwear brands, Madappa said, “It is obvious that the market is getting more and more competitive; however, Springfield is positioned in such a way that it would not be affected. Our stores sport a cool, vintage feel. It has been designed to make products accessible and afford consumers easy browsing. The initial response is encouraging for us. The business conversion rates, at over 60 per cent in both our stores, indicate that the brand should be a success.”
Commenting on the launch, Sandeep Krishan, brand head, Springfield, said: “Springfield is best suited for the young, cosmopolitan male in search of a fashionable brand that offers a good quality-price relationship. The collection oozes a ‘cool’ attitude with an overall rugged look and feel.”
About its target audience, Krishan informed: “We are not targeting any particular age group or segment. Anybody who wants to look urban, sporty and vibrant can get into Springfield.”
The brand, which originated in Spain, has a sales turnover of over 330 million euros, with 535 stores across Europe, Middle East, Mexico and Asia Pacific. Owned by Madrid-based textile giant Cortefiel Group, Springfield was launched in the year 1988.
Springfield boasts of a wide range of apparel, footwear and accessories for men. The collection comprises denims, winter clothing like sweaters, summer knitwear and continuity knitwear, sportswear like sport trousers and shirts, summer sports shirts and sports jackets, and accessories like bags, caps, shoes, scarves and socks. Brick walls, split-level ceilings at different heights, and modular furniture reinforce the recycled industrial feel of the store.
LMG Brands, the lifestyle apparel business of Landmark Group, has also brought the brands Bossini, Kappa, Josef Siebel and Vincci to India. The company, which plans to open its next store in Gurgaon, is optimistic about the Indian retail scene, especially for premium brands like Springfield.
Meanwhile, there are reports that the Landmark Group honcho and fashion industry veteran Fazle Naqvi is on his way out, presumably to float a new fashion venture. During his over two years stint at Landmark, where he set up LMG Brands, Naqvi brought in brands like Bossini, Kappa, Springfield, Josef Siebel and Vincci. His exit comes at a time when LMG Brands in India is in expansion mode across its four international brands.
– Vishnu Rageev R, Bengaluru Bureau