German brand Hucke Ag enters Indian market

Hyderabad, June 1 (UNI) Hucke Ag, a leading German based garment manufacturing company is all set for foray into domestic kids wear market in Andhra Pradesh with the launch of their popular brand Whoopi through a mega flagship store here on June 3.

In a strategic and long-term tie-up with Hyderabad-based Novotex Exim (India) Private Ltd (NEPL), the fashion conglomerate will share its longstanding expertise to bring out a brand new expression of international clothing for children in India.

Addressing a press conference here, NEPL Managing Director R V Venkat said the new Rs 6-crore plant, with an operational capacity of 50,000 pieces will commence operation by July 2006.

Apart from being a master franchisee for India and South Asia for Hucke brands, NEPL will also cater to the other parts of the world.

He said the company targets to achieve a turnover of Rs 25 crore in the first year of operating, including an export turnover of about Rs 15 crore.

Mr Venkat said over the next three years, the company expects the turnover to touch the Rs 100 crore mark, with about Rs 30 crore of domestic sales.

He said the branded segment account for only seven per cent of the Indian kids wear market at an estimated Rs 8700 crore, which was growing at 20 per cent rate annually.

NEPL was planning to create a strong retail network by setting up 20 exclusive Whoopi stores in the current financial year in the cities like Chennai, Ahmedabad, Delhi, Bangalore, Kochi and Kolkata.

UNI DB AJ 1842