Even as the recent economic slowdown applied brakes on its expansion plans in India, UK-based lingerie brand Triumph is upbeat on the market potential and plans to be an undisputed leader in the next few years.
In an exclusive interaction with IndiaRetailing, Thorsten Allenstein, MD (India and Sri Lanka), Triumph International India Pvt Ltd, says, “We want to become the undisputed market leader in the Indian lingerie segment. Based on the findings of the biggest consumer insight study (COIN) ever conducted in India for lingerie, we have optimised our collection as well as sales and marketing approach to achieve this goal.” Triumph entered India in 2002 and currently holds 30 per cent share of the branded lingerie market in India.
On the company’s expansion plans, Allenstein says, “We have plans to open more EBOs in tier I, II and III cities in FY 2011-2012. The expansion of EBOs is limited due to non-availability of premium retail space at a commercially viable rate. With the rationalisation of rent levels in retail, we foresee a faster rate of expansion.”
Stressing that Triumph expects India to become one of its top markets in the next five years, he says, “The year 2009 set the cash registers ringing for the company as a lot of competitors quit the country and foreign brands withdrew. Basically there was consolidation in the market and weak players exited, leaving only strong players in the market.”
Allenstein is optimistic about the future of Indian economy. “The Indian consumer is out there to spend money again and we just have to give them an opportunity to buy what they want,” he asserts.
Triumph has presence in 120 countries across the world.
– Shubhra Saini