The Italian Rifle brand will enter India through a licensing agreement with Indus Clothing. Indus Managing Director Harpartap Singh brokered the deal with the Super Rifle group. The former will manufacture and sell.
This new joint venture targets youngsters in the age group of 16-33 who prefer edgy new brand messages. Rifle jeanswear is priced in the range of Rs1,300 - Rs2,500 because it is a regular brand in Italy plus the quality of finishes, fabric and treatment work out at a little premium here.
Law & Kenneth is taking care of the advertising campaign and has already made impressions with outdoor posters and the like.
Singh wants to complement the Rs3 crore brand which is building budget with well thought out precision targeting.
Indus Clothing is planning to have 20 stores by 2007 in bigger cities including Delhi, Mumbai, Bangalore, Hyderabad, Chandigarh, etc. and 40 stores by 2008 in smaller cities.
One Rs (Rupees, aka INR) is approximately .022 USD.
One crore unit is 10 million.