The premium menswear brand Louis Philippe of Aditya Birla Group and owned by Madura Fashion and Lifestyle is all set to launch a slew of watches. These watches will be launched under the brand name Louis Philippe.
Apart from the time-wear, the Louis Philippe brand has assessed eyewear as well as writing instruments. These products will also be launched subsequently, stated a top company executive.
Sooraj Bhat, the Chief Operating Officer at Louis Philippe stated that they have conducted constant market researches on the time wear market segment for the past 1.5 years. The Louis Philippe brand of watches will be launched by the end of this month.
He added that they are also in the process of assessing the writing as well as eye-wear instruments market segments. However, right now they will be focusing on the time wear market.
The Louis Philippe brand that is 26 years old will retail the watches via its 85 exclusive stores and it will also expand the number of stores from 85 to 130 by the next month. As per the executive, the Louis Philippe watches will be priced in the range between Rs 6,999 and Rs 23,000 for around four or five watches that are Swiss models.
Bhat did not reveal anything regarding the store expansion plans and he stated that there are right now 250 elite Louis Philippe stores in the country. He further revealed that the company has invested around Rs 5 crore to launch this new category of time wear products and it not is manufacturing the products here.
Bhat stated that they are importing the watches from a reliable Hong Kong based vendor Daily Win.
The brand Louis Philippe started selling premium shirts and later moved on to the men’s apparel market segment. It has branched into allied sub-brands such as LP Footwear, LP Sport and LP Jeans.
Madura Fashion and Lifestyle also owns apparel brands including Peter England, Allen Solly and Van Heusen.
