Published in The Economic Times
TIRUPUR: Menswear clothing brand Classic Polo, from the stable of Royal Classic Mills of Tirupur, is looking at acquiring a Rs 50-60 crore semi-formal apparel brand. Classic Polo has set a November-December deadline for the acquisition and is learned to be in negotiations with a few brands. Classic Poloâ€™s look-out for strong brands is part of a bid to expand its presence in the domestic market.
Royal Classic Millsâ€™ Executive Director R Sivaram confirmed the move but declined to spell out further details. He, however, said Classic Polo was looking at a brand that would add value to its existing range.
The Rs 16-crore Classic Poloâ€™s strength lies in knitted T-shirts where it claims to have over 15% market share. In a bid to turn into a menâ€™s lifestyle brand, it entered the semi-formal shirts category recently. Also, according to industry insiders, Classic Polo has tied up with
Hyderabad-based Suryalakshmi Cotton Mills for denim.
According to industry experts, labels like Sunnex, Lawman, Provogue, Numero Uno, Trigger, and Moustache would be some likely brands that would fit Classic Poloâ€™s requirements. Interestingly, Classic Poloâ€™s move follows aborted attempts by the company to align with strong trouser brands. A few months back, the company tried to rope in an alliance partner to tag its tees and shirts with the allyâ€™s trousers to offer the full menswear
range. Further, it was also open to partner any of the leading Indian clothing brands.
Apart from brand acquisitions, Royal Classic Mills is also undergoing group restructuring and consolidation with associate companies.
Mr. Sivaram says, four of the associate companies have been merged with Royal Classic Mills. Royal Classic Mills now has four apparel divisions and a yarn trading concern. The Rs 250-crore company is seriously looking at enhancing its domestic business. At present, 95% of its business is dependent on exports.