Lux Cozi, a prominent men’s knitwear and textile brand, is setting its sights on significant growth with its women’s wear brand, Pynk. The company aims to achieve an impressive revenue target of Rs 800 crore within the next five years. Lux Cozi is also optimistic about its mother brand, Cozi, reaching the Rs 1,000-crore milestone in the near future.
Saket Todi, the executive director of Lux Industries, revealed that Pynk is scheduled for a national launch on May 1 after a successful soft launch in select cities earlier. The brand received a positive response during its initial introduction in Kolkata, Ahmedabad, Mumbai, Pune, Varanasi, and Jaipur. Todi emphasized that Pynk would cater to both core essentials and the latest fashion trends.
In the first year of operation, Lux Cozi anticipates revenue in the range of Rs 125-130 crore from Pynk, with projections to double in the following year. The company is strategically planning for a steady growth trajectory, aiming to reach the Rs 750-800 crore mark by 2029-30. To support this expansion, Lux Cozi plans to establish a network of 200 distributors for the Pynk brand.
Pynk is positioned as a unique offering in the women’s fashion segment, targeting general trade channels rather than exclusive retail outlets. With a price range of Rs 500-1000, Pynk aims to offer affordable yet stylish options to a wide consumer base. Lux Cozi is investing substantially in marketing, allocating Rs 23-25 crore for promotional activities, and enlisting popular actress Shraddha Kapoor as the brand ambassador.
Furthermore, Lux Cozi is optimistic about Cozi’s growth prospects, as it aims to become a leading mid-premium brand in the country, crossing the Rs 1,000-crore revenue milestone. The company’s strategic focus on expanding its product portfolio and market reach underscores its commitment to becoming a formidable player in the fashion and textile industry.
The introduction of Pynk represents a significant move for Lux Cozi into the women’s fashion segment, signaling a diversification strategy aimed at capturing a larger market share. By leveraging its existing brand equity and industry expertise, Lux Cozi is poised to capitalize on the growing demand for quality women’s apparel in India.
As the fashion landscape continues to evolve, Lux Cozi’s foray into women’s wear reflects broader trends in the industry, where established brands are expanding their offerings to cater to diverse consumer preferences. With a clear roadmap for growth and a strong marketing push, Lux Cozi is well-positioned to make a mark in the competitive women’s fashion market.
In conclusion, Lux Cozi’s ambitious revenue targets and strategic initiatives underscore its commitment to innovation and market leadership in the dynamic fashion industry. By leveraging its established brand reputation and consumer insights, Lux Cozi is poised to redefine the women’s fashion landscape and drive sustainable growth in the years to come.
