Prateek Lifestyle, the retail arm of Prateek Apparels (a player in apparel manufacturing and design), has signed several deals with leading brands for opening the latter’s factory outlets. According to industry sources, Prateek Lifestyle plans to have 40-50 factory stores of several premium brands operational by 2008.
When contacted, Mahendra Padhy, director (distribution business), Prateek Lifestyle, said: “It is too premature to comment on the details of opening such outlets. At present, our focus is on opening some 10 Coupon stores by this March-end. The company also plans to open 20 Kaanz and 10 Under Colors of Benetton stores by 2008-end.”
At present, the company runs two Coupon stores in Bengaluru and Raipur; two Under Colors of Benetton stores in New Delhi and Mumbai; and around nine Kaanz outlets across the country.
Prateek Apparels supplies garments to brands like Levi’s, John Players, Westside, Benetton, Pepe, Lifestyle, Wrangler, Reebok, Lee, and Puma. The company, which employs 5,000 personnel at present, produces approximately 515,000 pieces of garments (shirts, kidswear, chinos, jeans, cargo pants) every month. According to reliable sources, Prateek Lifestyle plans to open factory outlets for all these brands.
Recently, the company announced that it would set up its largest integrated garments factory in Karnataka with an estimated investment of Rs 83 crore. A Phulchand Group company, Prateek Apparel’s six manufacturing units are all located in Karnataka – five in Bengaluru and one in Hubli. So far, the company has invested Rs 45 crore in the six units. The company, which also acquired land in Tumkur, expects the factory to commence production in a year. Prateek Apparels MD Pradeep Agarwal attributed the expansion to the tremendous demand for apparel products from the domestic market.
The upcoming manufacturing unit will double the size of Prateek’s existing production capacity. Meanwhile, the company is also learnt to be exploring new lifestyle retail formats. It will also launch new private labels for retailing at its Coupon mall. Currently, it sells private labels like Islander (men’s casualwear brand) and Mark Taylor (men’s mass-market formal brand). The company plans to launch private labels for men, women and kids.
– Vishnu Rageev R, Bengaluru Bureau