HUCKE AG to foray into Indian kidsware market
Chennai, Apr 19: German textile major, HUCKE AG, is making a foray into the Indian kidswear market with the launch of its popular brand 'WHOOPI' across major cities in the country.
The fashion conglomerate, which designed the entire Harry Potter collection, is making its debut in India through a strategic and long-term tie-up with Hyderabad-based Novotex Exim (India) Private Ltd.
The WHOOPI brand would offer a wide range of clothing and accessories for boys and girls in the age group upto 12 with highly fashionable and advanced styles in 100 per cent cotton.
Novotex Exim Managing Director R V Venkat told a press conference here the product price ranged from Rs 199 to Rs 1,499 and the range of accessories included sun goggles, belts and sandals.
Mr Venkat said a state-of-the-art manufacturing facility with an investment of Rs six crore had been set up in Hyderabad. The plant, which had a production capacity of 50,000 pieces, would be operational by June 2006.
Apart from being a master franchisee for India and South Asia for Hucke Brands, Novotex Exim would also be catering to Hucke's requirements the world over. The company had targeted a turnover of Rs 25 crore in the first year of operation including an export turnover of about Rs 15 crore, he added.
Mr Venkat said over the next three years, the turnover was expected to touch the Rs 100 crore mark, with about Rs 30 crore domestic sales.
The size of the Indian kidswear market was estimated to be worth Rs 87 billion, of which the branded apparel segment was seven per cent. This segment was growing at 20 per cent annually, making it the fastest growing market in the world, he said.
Novotex Exim was planning to create a strong retail network by setting up 20 exclusive WHOOPI stores in the current financial year across the cities like Chennai, Coimbatore, Hyderabad, Ahmedabad, Delhi, Bangalore, Kochi and Kolkata. It would also open 200 shop-in-shops in leading multi-branded outlets including 20 in Tamil Nadu during the first year itself.
He said the products would conform to ecotex standards, use of anti-allergic dyes and azo free accessories conforming to standards like nickel free.