One of the Mumbai-based menswear majors, Cambridge Apparel, plans an image makeover through a five crore rupees ad blitz, diversifying into women’s formal wear, expanding its store-network and pushing its two brands, Platinia and Work and Play collection.
“So far, Cambridge has been well-known as a menswear brand in the value-for-money segment. Now, as a part of our makeover strategy, we plan to diversify into women’s formal wear through our brand — Cambridge for Her. We have also launched a five crore rupees ad blitz from this month,” informs Prashant Bhatia, director, Cambridge Apparel.
“Cambridge will combine both fashion and affordability and will roll-out its women’s-wear brand by end-March. We will position it in the affordable segment. The price range will be between Rs.300-699,” he says.
The company, which clocked a turnover and PAT of Rs 75 crore and four crore rupees in FY 09, is targeting a 20 per cent growth this fiscal and expects 30 per cent growth in the next year. “Currently, we have 450 outlets comprising of both exclusive and multi-brand outlets. We plan to add 125-150 more outlets by end-2011,” he says.
Funding for its expansion would emanate from internal accruals and there were no plans to raise funds, he reveals, “There are also no plans to list our company for at least the next two to three years.”
The brand Cambridge, which is very strong in the west and south according to Bhatia, plans to now expand in North India in cities such as Delhi, Haryana, Punjab and UP.
— IndiaRetailing Bureau