French lifestyle brand Lacoste, known for its ‘crocodile’ logo polo T-shirts, has said that after a short period of lull, the company plans to again go for a major expansion in this country. It will be doubling its 50 point-of-sales (PoS) by 2021.
The latter comprise online sales on the company’s portal, exclusive boutiques in malls and high streets, and shop-in-shops with demarcated areas. The target this year is 15-20 per cent growth over last year.
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Rajesh Jain, managing director, Lacoste India said they’d be targeting more premium malls and add around eight new PoS by end-year.
“Offline, we follow a selective distribution network. Every new PoS is carefully selected, as we are bottomline (profit)-conscious. In a year, if we open eight-10 new doors or PoS, it is considered an aggressive expansion for a brand like ours. We are again on expansion mode; last year, we opened seven new PoS,” he said.
The company is focusing more on malls, as trends show customers preferring a one-stop shop environment for all retail and entertainment needs.
In June, it launched an online store, www.lacoste.in, catering to a wider consumer base in tier-I and tier-II cities where the company is not physically present.
(Source: Business Standard)