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Lux Industries enters the woman's lingerie category through Lyra.

Lux Industries enters the woman's lingerie category through Lyra.

Lux Industries Sets a revenue target of ₹30 cr in the first year from this category It will be extending its woman's legging brand Lyra into lingerie and pitting itself against domestic players like Lovable in the mid-premium market segment. UditTodi, Senior Vice-President, Lux Industries, mentioned that “Margins in lingerie are better than the leggings category. But it is going to be ä challenging category since it is fragmented with a lot of unorganised players.”

The company entered the woman's segment with its Lyra brand about four years ago and had roped in actor Prachi Desai as its brand ambassador. It has set a revenue target of ₹30 crore in the first year from the lingerie category.

“We entered the woman's legging category when there was no branded player in the segment and Lyra already has a turnover of ₹160 crore. But margins in the lingerie segment are expected to be better in the ₹8,000-crore woman's lingerie segment which is growing at about 20 per cent" he added.

The ₹940-crore hosiery major already has brands like Onn and Lux Cozi in its portfolio and has been trying to build them with high-profile ambassadors like actor Shah Rukh Khan and former Australian cricketer Brett Lee in the inner wear and casual wear category.

“We are trying to move away from being a hosiery to a lifestyle player and want to have a premium image in the casual wear segment. In fact this was the reason we got Brett Lee on board to take our brand like Onn to Australia a year ago added Todi. After entering Australia, Lux Industries is now planning to enter new markets in western Europe with its hosiery and casual wear brands like Onn and Lux Cozi.

“Exports are at about ₹120 crore and we want to take our brands to developed countries since we want to build a portfolio of premium products, he added.With 12 manufacturing locations, Lux Industries is not planning any additional capex this year. “Last year we had a capex of ₹100 crore and this year we do not plan to have any additional capex.New categories like lingerie are likely to get outsourced," he added.

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