Established
in 1986, Springfield Fashions launched the brand Springfield in the
men’s formal wear category. Today, the brand is known for its classy and
stylish suits and trousers. Moving ahead, the brand plans to add denims
and casual shirts
as a part of its portfolio expansion plan. Opines Yogesh Shetty,
Director, Springfield Fashions, “We are trying to tie up with some mills
or a retail chain, where we could lease out our brand. We may start
denims in three or four months. The range will be priced from Rs 1,299
but we may have a category below Rs 1,000. Casual shirts will also be in
the mid segment in the price range of Rs 899 to Rs 1,499.”
Talking
about the times, Springfield was launched in the market, Shetty says,
“When we started, people preferred customized stitching. I was well
connected with the worsted suiting business, so we started with
trousers. But now the demand has moved towards readymade suits.
Customized is preferred mainly at the top end. And top end brands have
created a very big demand for the suit market.”
The brand’s product range is currently experimenting with suits with a
classic fit and fashion fits. Shetty says, “Fashion fits are slimmer and
narrower, which are dominating the market now. Fashion suits have
lapels with velvet and embellishments, the fabrics are shinier but with a
clean look. We also have basic jackets priced between Rs 3,500 to Rs
4,500. Classic suits are between Rs 4,999 or Rs 5,999 and fashion
jackets are from Rs 4,500 to Rs 5,500.”
Since the brand offers a value product, it is retailed through Aditya
Birla Retail, Star Bazaar and The Loot. The range is present in three or
four such stores. Now it plans to enter other value format stores like
Megamart. “In Bangalore, we are in about six multi brand outlets and on a
pan India basis, we have presence through The Loot stores. But our
concentration right now has been more on the western zone and the
southern zone. We are looking at exploring the northern zone. We may
even license the brand to a large retail group and help them in
production or design,” Shetty adds. The brand has so far seen a growth
of 10 per cent every year and this fiscal year end, it is looking at
achieving a 25 per cent growth. | | | | | |