SKNL is well positioned to benefit from the growth of the branded textiles and apparel market in India. It is a leading player in the branded textiles and apparel segment in India with market leadership position in the uniforms segment (30% market share) and is the 2nd largest player in the worsted suiting segment. Its product range caters to all consumer segments ranging from mass market to luxury textiles.
SKNL’s brands currently retail across 30000 multi brand outlets serviced by a network of over 400 wholesale dealers. In addition it also retails through exclusive brand outlets and large format stores. As a part of its growth strategy, it is looking to further enhance its distribution reach by adding more multi brand outlets and opening new exclusive brand stores. It plans to roll out additional 160 exclusive brand outlets over the next 2 years through a mix of company owned and franchisee stores.
SKNL has now ensured thrust on its ready-to-wear segment, aligning its strategy to the changing taste of Indian consumers. Consumers are increasingly shifting away from buying textile and getting it tailored, towards ready-to-wear apparel. Accordingly, SKNL is increasing the share of ready-to-wear in its product mix. At present, ready-to-wear accounts for 30% SKNL’s sales, which is likely to increase to 40% over the next 2 years.
Turnaround of overseas subsidiaries
SKNL ventured overseas through its acquisitions of Legguino in Italy and Hartmax (HMX) in the US. Legguino was acquired in October 2008 and HMX in May 2009. Legguino is a high value shirting fabric manufacturer supplying to leading brands like Prada, Hermes, Versace, Zenga, Etro and Burberry. HMX operates a portfolio of 32 brands (licensed) and caters to men’s apparel segment. Overseas acquisitions have provided SKNL access to customers and distribution network in developed markets of US and Europe.
You can check out the Entire List of Brands owned by S Kumars Globally here.