Peter England to be India's favourite family brand

{image-peter england_16052008.jpg news.oneindia.in}Mumbai, May 16: Launching the Peter England People brand at a unique family retail store at Goregaon in suburban Mumbai today, Aditya Birla Group Chairman Mr Kumar Mangalam Birla said the company's vision was to make it the country's favourite family brand.

Talking to reporters, Mr Birla said the company plans to invest Rs 400 crore in the business and expects the turnover to reach Rs 6,000 crore in the next five years. The company would launch the brand at Bangalore in June and later in cities like Delhi, Hyderabad, Chennai and Kolkata by end of 2008. ''We have restructured the apparel business into three divisions, which cater to the mass, premium and super-premium segments. The market for apparel segment for organized players is estimated at Rs 4,900 crore and is expected to grow to Rs 1,30,000 crore in the next five years. Our plans are built on continuing the momentum to current brands, executing new growth initiatives and targetting select new opportunities", Mr Birla said,

UNI