Having a turnover of Rs. 550 crore in FY ’22, Lux Industries, a Kolkata-based leading knitwear company, is geared up to achieve a turnover of Rs. 1,000 crore by FY ’26. The company has undertaken a three-pronged strategy to achieve this target. It has been growing at a rate of 10 per cent to 12 per cent over the last three years.
Leading business daily, The Economic Times, quoted Saket Todi, Director of the company, “As part of our strategy, we will beef up our presence in South India from where we only get a revenue of Rs. 10 crore. Secondly, we have launched a new category for boys’ innerwear, which is known as Lux Cozi Boys. In FY ’23, we earned a revenue of Rs. 18 – Rs. 20 crore from this brand, which is only 3 per cent of our total revenue. Our target is that by FY ’26, the boy’s innerwear brand should earn a revenue of Rs. 100 crore which is 10 per cent of our targeted turnover of Rs. 1000 crore.”
The company has reduced prices in the December-January period as the yarn prices have softened and there are no immediate plans to increase prices.
Saket also added that the company needs to increase the growth of the men’s innerwear category which is the company’s highest revenue earner.
To increase the growth of the menswear segment, Lux Industries has roped in Bollywood actress Jacqueline Fernandez to endorse the men’s innerwear category.
