Lux Cozy eyes 800 crore revenue from Pynk in 5 yrs
Kolkata:
Lux Cozy
, one of the leading
men's knitwear
and textile brands, is hoping that
Pynk
, the women's wear brand from its stable, may touch Rs 800-crore mark in the next five years. The group is also eyeing the Rs 1,000-crore mark for its mother brand, Cozy, soon.
Lux Industries executive director Saket Todi told TOI that Pynk would be formally introduced nationally from May 1. Todi said Pynk saw a soft launch in Kolkata, Ahmedabad, Mumbai, Pune, Varanasi and Jaipur in Jan, which generated a good response. "Now, we will go for a formal introduction. Pynk will have a presence in both core and fashion segments," he added.
You Can Also Check:
Kolkata AQI
|
Weather in Kolkata
|
Bank Holidays in Kolkata
|
Public Holidays in Kolkata
According to Todi, in the first 12 months of operation, the group is eyeing Rs 125-130 crore revenue from Pynk. This is likely to reach Rs 280-300 crore in the second year. "We are looking at Rs 750-800 crore by 2029-30. This is our blueprint as of now. For this, we are confident of a healthy double-digit CAGR for the next couple of years. We are planning 200 distributors for this brand," he added.
Pynk would be the first
women's fashion wear
brand available in the general trade category, Todi said. "There are a lot of women's fashion wear brands, but they are in organised retail. Our target is general merchandise. The price point for the brand would be Rs 500-1000, which would be the most moderate option in this category," he added.
Todi said the company would spend Rs 23-25 crore on promotion and has roped in Shraddha Kapoor as Pynk's brand ambassador. "The promotional spend would remain the same in the second year as well," he said. Commenting on Cozy, he added that it would be the first mid-premium brand in its category in the country to touch the Rs 1,000-crore mark.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
30 minutes ago
- Hans India
HDB Financial Services IPO Opens June 25: Price Band Set at Rs 700–740 Per Share
HDB Financial Services, a company under HDFC Bank, is launching its Initial Public Offering (IPO) on June 25. Even before it opens, the company's shares are being traded in the grey market with a premium of Rs 47–48, or about 6.35%, above the IPO price. Earlier, shares in the unlisted market were selling for Rs 1,200 to Rs 1,350. This was much higher than the IPO's upper price of Rs 740 per share. At the top price, the company is valued at around 3.72 times its book value. This is close to the value of other NBFCs like Bajaj Finance and Shriram Finance. Experts say the pricing is careful and fair for large investors. Experts also believe this is a good IPO to consider. They point to the company's strong background, known brand, solid risk management, and high credit ratings. The company is one of the biggest NBFCs in the country and serves a large number of customers. Analysts think it will grow well and keep improving its asset quality. The IPO will raise Rs 12,500 crore, which includes Rs 2,500 crore as fresh shares and Rs 10,000 crore as an offer for sale by current shareholders. The price band is set between Rs 700 and Rs 740. People can apply for a minimum of 20 shares, and more in multiples. Some shares are kept aside for employees and HDFC Bank shareholders. Employees can buy from a pool worth Rs 20 crore, and shareholders from a pool worth Rs 1,250 crore. At the highest price, the total market value of the company could be around Rs 61,388 crore. The IPO is managed by a large group of financial firms. The registrar of the issue is MUFG Intime India.
Hindustan Times
33 minutes ago
- Hindustan Times
ASUS unveils TUF and ROG 2025 gaming laptops lineup in India
ASUS launches new TUF and ROG gaming laptops in India with NVIDIA GeForce RTX 50 series graphics, featuring Intel and AMD processors. Models include F16, A16, Strix G16, and Zephyrus G14, targeting gamers and creators with prices ranging from Rs. 1,44,990 to Rs. 1,84,990.
India Today
35 minutes ago
- India Today
Explained: Why many low-income Indian households still rely on moneylenders
India's financial inclusion story has moved forward in many ways over the past decade. More people have bank accounts, digital payments are part of daily life, and fintech has made financial services easier to access. But for many low- and middle-income households, especially those earning under Rs 5 lakh a year, borrowing money remains a challenge. When cash runs short, they still turn to the local moneylender, the nearby shopkeeper, or friends and banking may have reached their neighbourhoods, but formal credit hasn't. A new report from Piramal Enterprises, based on CMIE's Consumer Pyramid Household Survey, brings this gap into focus. The report, authored by Debopam Chaudhuri, Chief Economist, Piramal Enterprises, shows that while access to the banking system has grown, access to credit remains uneven and out of reach for low-income households, informal loans are still far more common than formal ones. In 2021, these households borrowed 2.6 times more from informal sources than from banks or NBFCs. For comparison, that ratio is 0.6 in Brazil and just 0.27 in the US. (Insights from Piramal study) INFORMAL LOANS ON THE RISEThings look even more worrying for those at the bottom of the income ladder. Households earning under Rs 2 lakh a year saw formal borrowing fall by over 4% a year between FY19 and FY23. Informal borrowing in the same group grew by almost 6% each in the Rs 2–10 lakh range, more households are turning to both formal and informal credit. In other words, banks aren't replacing moneylenders; they're just another option, often not the explains this persistent pull of the informal credit system?One big reason is that many borrowers simply don't fit into the banking system's boxes. They don't have stable jobs, payslips, or a strong credit the pandemic hit, reverse migration increased the number of people in agricultural and informal work — jobs that banks view as risky. These workers needed credit, but banks stepped back. Informal lenders moved in, as they always problem is that borrowing informally often comes with steep costs. Interest rates are high, there are no clear rules, and if things go wrong, there's little protection. It can trap families in cycles of debt that are hard to also plays a role. Southern states like Kerala, Tamil Nadu and Karnataka have higher levels of formal borrowing, partly due to the popularity of gold loans and wider fintech use. But in states like Bihar, Jharkhand and West Bengal, more than half of all households still depend on informal sources. Even Punjab, which traditionally had a more stable credit profile, is now seeing a shift towards informal matters too. Daily-wage workers are among the most excluded. Over 55% of households in this group rely on informal loans, as banks tend to see them as too risky. The same is true for many self-employed people, especially those running small businesses. Banks often hesitate to lend to them. As a result, more of these households depend on non-institutional the other hand, salaried professionals and industrial workers have seen better access to formal loans, especially with the rise of digital lending platforms. These borrowers usually have more paperwork, better credit scores, and more predictable income. That makes them more and microfinance institutions are filling some of the gaps, especially in small towns and rural areas, added the report. But their growth has limits. They face higher funding costs, tighter regulations and less room to Debopam Chaudhuri notes in the report, 'India's financial inclusion story has delivered impressive gains in access, but the next chapter must focus on usage, especially timely, affordable and appropriate credit. For millions of informal workers, small entrepreneurs and rural households, NBFCs are the only bridge to formal finance. Strengthening them is essential to close the credit gap.'He adds, 'Without formal credit at the last mile, especially for self-employed and blue-collar workers, India risks widening the credit divide. Informal borrowing not only carries higher costs but lacks regulatory protection, which undermines long-term household resilience.'The Piramal report calls for more support to strengthen these lenders, suggesting measures like giving strong NBFCs more options to raise funds, improving their access to affordable capital, and simplifying the rules around loan recovery for small borrowers. These steps could help them reach more people who are currently left out of the formal system. advertisement
