“We are focusing on our premium brand ONN to improve margins. We have ventured into thermals for women and kids under ONN and if we get proper acceptance, we may venture into more range,” Senior VP, Lux Industries, Saket Todi told PTI.
According to a PTI report: ONN is primarily a premium innerwear and casual wear brand for men and the company, for the first time, ventured into women and kids category with winter thermals.
“We may introduce innerwear for women and outerwear for kids under ONN but things will get clearer by next January,” Todi further told PTI.
Lux industries reported revenues of Rs 972 crore and a net profit of Rs 62.85 crore during 2016-17.
Todi said ONN has contributed to the improvement of the company’s bottomline in the past.
Currently, ONN contributes 10 per cent to the company’s topline but with new product categories and expansion, the same is expected to grow to 15 per cent in 2-3 years, Todi said.
Lux Cozi is the highest revenue churner for the company.
Speaking about the launch of new thermals, Todi said the products will be well accepted in the market in the coming winter.
Thermals account for about eight per cent of ONN brand sales but with foray into women and kids segments, the same will also grow.