Google News
spot_img
spot_img

Lux Industries banks on premium brand ONN to improve bottomline

Must Read

Hosiery outfit Lux Industries Ltd is banking on its premium brand ONN to improve bottomline, a top official today said.
“We are focusing on our premium brand ONN to improve margins. We have ventured into thermals for women and kids under ONN and if we get proper acceptance, we may venture into more range,” Senior VP, Lux Industries, Saket Todi told PTI.
According to a PTI report: ONN is primarily a premium innerwear and casual wear brand for men and the company, for the first time, ventured into women and kids category with winter thermals.
“We may introduce innerwear for women and outerwear for kids under ONN but things will get clearer by next January,” Todi further told PTI.
Lux industries reported revenues of Rs 972 crore and a net profit of Rs 62.85 crore during 2016-17.
Todi said ONN has contributed to the improvement of the company’s bottomline in the past.
Currently, ONN contributes 10 per cent to the company’s topline but with new product categories and expansion, the same is expected to grow to 15 per cent in 2-3 years, Todi said.
Lux Cozi is the highest revenue churner for the company.
Speaking about the launch of new thermals, Todi said the products will be well accepted in the market in the coming winter.
Thermals account for about eight per cent of ONN brand sales but with foray into women and kids segments, the same will also grow.

Latest News

The Luxottica report card for 2022

A look at how the world’s largest eyewear company fared in terms of revenue growth in key regions across...

Login to your account below

Fill the forms bellow to register

Retrieve your password

Please enter your username or email address to reset your password.