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Handbags brand Lavie explore new segments

 

AGENCIES | Mumbai, January 15, 2012 13:29
Tags : Lavie Handbags | new segments | Lavie footwear | Lavie Eyewear | Lavie expansion |
 

 

Lavie, a successful handbag brand is expanding its product portfolio as it ventures into the footwear and eyewear segments over the next two years. The brand is a part of the Gurgaon-based Planet Retail, famous for its leather bags and accessories and is riding high on its success in the handbag category.
 
The fashion and lifestyle handbags brand made its debut last year and roped in Bollywood actress Kareena Kapoor as brand ambassador.
 
"We want to be a preferred accessories player, so the natural extension would be footwear and eyewear. We will enter these segments, maybe, in the next two years and the products will be under the same brand Lavie," Lavie Bags Brand Head Sandeep Goenka told PTI here.
 
Asked if the footwear and eyegears will be outsourced, he said the company is yet to take a view on this. Currently, the firm sources its handbags from around the world. Goenka ruled out the possibility of them setting up a manufacturing unit in the near future."We don't have a defined plan. In case we set up it will be demand-driven."
 
Lavie is eyeing a revenue of Rs 100 crore in the next 2-3 years but Goenka was tightlipped about the current turnover. Lavie handbags are available at multi-brand retail outlets and the firm has five exclusive stores and it plans to expand presence.
 
"We have five stores currently and will add another five this year. In the next three years we should have 35-40 exclusive stores," he said without giving investment details.
 
The brand last year spent Rs 14 crore on marketing and is likely to increase that figure this year. "It should be more this year since the management would like to make the brand more popular quickly," he said.
 
The rising input cost and a weaker rupee is putting pressure on its margin, but the brand does not plan to increase prices yet. "We want to make it affordable to the
consumer but if the dollar rises further then we might increase prices," he said.
 
On Lavie's global expansion plans, Goenka said, "we are open to exports. But we are not in a hurry."
 
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Issue Dated: Feb 5, 2017