Hasbro: Ready to Dream

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Hasbro: Ready to Dream

Post  Anand on Sat Aug 16, 2008 3:47 pm

A stitch started with a mere Rs 25,000 in 1990 takes a classy cut today, when it projects a turnover of Rs 1,000 crore by 2015 - after shaping itself into a complete lifestyle brand. Vishnu Rageev R, sr correspondent, unearths strategies and dreams in the making.

Chennai-based Hasbro Clothing, already a hit among youngsters with brands like Genesis, Basics and Probase, is eyeing a turnover of Rs 1,000 crore by 2015. With major expansion plans on the anvil, including retail growth, brand extensions and new product launches, the company is geared to arrive at a turnover of Rs 250 crore by 2010, while the immediate target is to touch Rs 100 crore by this fiscal – from Rs 70 crore during the last financial year. Plans are afoot to introduce shoes, shades, haversacks and other accessories into the existing portfolio of Basics, while Genesis will add cufflinks, handkerchiefs and leather accessories.
“Hasbro has grown multi-fold since its inception in 2000. In the last four years, the company has been growing at the rate of 70 per cent in terms of turnover, which is expected to rise and rise. We have started the homework for making it a Rs 1,000-crore brand by 2015,” divulged Alok Sharma, business head, Hasbro Clothing Pvt. Ltd. The company's future plans include acquiring new brands, foraying into new retail territories, and launching into kids and womenswear segments.
Brand focus Explaining the need for extending product portfolio, Sharma said, “This is not luxury anymore; increasing width (product portfolio) is a bare minimum necessity and will have to be exercised. Come 2008, Basics and Genesis brands will become a complete lifestyle brand with a wide variety of products to choose from – shoes, goggles, haversacks, cufflinks, handkerchiefs, leather accessories and the like.” Kickstarting its transformation as a complete lifestyle brand, the company plans to launch an exciting range of denims under Basics, while Genesis will introduce readymade suits into its portfolio in the next two months.
Currently, Basics offers shirts, trousers, denims, knits, jackets, belts, caps, socks and undergarments, while Genesis has shirts, trousers, suits, jackets and ties. Probase offers shirts and trousers in economy range.
Retailathon
On the retail front, the company plans to open 40 more standalone stores in the near future across South India and other key metros including New Delhi, NCR, Mumbai, Bangalore and Hyderabad. At the moment, 48 stores are operational across the country. The average size of the stores will be approximately 1,000-1,200 square feet.

"The company will invest Rs 10 crore for retail expansion this fiscal. We have already booked retail spaces in many tier II and III towns like Faridabad, Nagpur, Pune, Coimbatore, Vadodara, Surat, Mysore and Aurangabad," Sharma confided.

The brand is popular in several tier II and III towns across South India. "We believe that if you offer quality products at an affordable price, the customer will definitely acknowledge and reach for it. Currently, we have exclusive stores in tier II cities like Thrissur, Erode, Salem and Tirupur, and we get a good share from these cities," Sharma said. The brands are also available in leading MBOs like Lifestyle, Central, Globus and Spencer's across the country. The company, which has also forayed into the northern and western markets, is working on an aggressive marketing strategy to increase overall brand awareness.

A stitch started with a mere Rs 25,000 in 1990 takes a classy cut today, when it projects a turnover of Rs 1,000 crore by 2015 - after shaping itself into a complete lifestyle brand. Vishnu Rageev R, sr correspondent, unearths strategies and dreams in the making.

Chennai-based Hasbro Clothing, already a hit among youngsters with brands like Genesis, Basics and Probase, is eyeing a turnover of Rs 1,000 crore by 2015. With major expansion plans on the anvil, including retail growth, brand extensions and new product launches, the company is geared to arrive at a turnover of Rs 250 crore by 2010, while the immediate target is to touch Rs 100 crore by this fiscal – from Rs 70 crore during the last financial year. Plans are afoot to introduce shoes, shades, haversacks and other accessories into the existing portfolio of Basics, while Genesis will add cufflinks, handkerchiefs and leather accessories.
“Hasbro has grown multi-fold since its inception in 2000. In the last four years, the company has been growing at the rate of 70 per cent in terms of turnover, which is expected to rise and rise. We have started the homework for making it a Rs 1,000-crore brand by 2015,” divulged Alok Sharma, business head, Hasbro Clothing Pvt. Ltd. The company's future plans include acquiring new brands, foraying into new retail territories, and launching into kids and womenswear segments.
Brand focus Explaining the need for extending product portfolio, Sharma said, “This is not luxury anymore; increasing width (product portfolio) is a bare minimum necessity and will have to be exercised. Come 2008, Basics and Genesis brands will become a complete lifestyle brand with a wide variety of products to choose from – shoes, goggles, haversacks, cufflinks, handkerchiefs, leather accessories and the like.” Kickstarting its transformation as a complete lifestyle brand, the company plans to launch an exciting range of denims under Basics, while Genesis will introduce readymade suits into its portfolio in the next two months.
Currently, Basics offers shirts, trousers, denims, knits, jackets, belts, caps, socks and undergarments, while Genesis has shirts, trousers, suits, jackets and ties. Probase offers shirts and trousers in economy range.
Retailathon
On the retail front, the company plans to open 40 more standalone stores in the near future across South India and other key metros including New Delhi, NCR, Mumbai, Bangalore and Hyderabad. At the moment, 48 stores are operational across the country. The average size of the stores will be approximately 1,000-1,200 square feet.

"The company will invest Rs 10 crore for retail expansion this fiscal. We have already booked retail spaces in many tier II and III towns like Faridabad, Nagpur, Pune, Coimbatore, Vadodara, Surat, Mysore and Aurangabad," Sharma confided.

The brand is popular in several tier II and III towns across South India. "We believe that if you offer quality products at an affordable price, the customer will definitely acknowledge and reach for it. Currently, we have exclusive stores in tier II cities like Thrissur, Erode, Salem and Tirupur, and we get a good share from these cities," Sharma said. The brands are also available in leading MBOs like Lifestyle, Central, Globus and Spencer's across the country. The company, which has also forayed into the northern and western markets, is working on an aggressive marketing strategy to increase overall brand awareness.

Anand

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Registration date : 2008-08-15

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