Though the name of the brand has not been decided, the initial groundwork is done and the company seems to be sure of its product portfolio, target and price points.
“We’ve seen success with Pretty Secrets, which is a premium brand, and have learnt that there is a need for a mid-segment brand in this category. As we retail primarily through multi-brand outlets (MBOs), we’ve noticed that big corporate houses are coming into value retailing and need mid-segment brands. The new brand to be launched will cater to that need,” Karan Behl, managing director, MTC, told Indiaretailing.
Talking about the upcoming products, Behl said, “To start with, targeting women, we will retail nightwear in satin, chiffon and georgette and later add a lingerie range. Priced between Rs 550 and Rs 850, the brand will be retailed through MBOs in western India in the first phase. In second phase we are planning to open 2-3 exclusive brand outlets, and have a pan-India presence through MBOs.”
Behl also revealed that the company is in advanced talks with Reliance Trends for the new brand, as Pretty Secrets being a premium level brand does not fit in the value format.
The new brand will be a separate entity of MTC and will not be associated with Pretty Secrets. The company is appointing a new team for marketing and other backend services.
Maruti Trading Company is primarily a garment exporter, subsequently gaining success in fashion retailing through Pretty Secrets. Pretty Secrets had debuted in the market in March 2006. At present, the brand sells through eight exclusive outlets, and over 150 other points-of-sale in the form of multi-brand outlets or shop-in-shops.
– Ranjan Kaplish