Pioneer Embroideries to set up Hakoba Fashion Galleries chain
By Our Corporate Bureau | 27 Oct 2003
Hyderabad: Fashion and embroidery brand Hakoba, launched in 1953, is hugely popular with women and has become synonymous with intricate embroidery. From fashion ramps in Milan to exclusive outlets in Mumbai, Pioneer Embroideries Ltd (PEL), which owns the Hakoba brand, is all set to take the centre-stage in India''s fashion industry with exclusive Hakoba Fashion Galleries, showcasing embroideries beyond imagination.
PEL has drawn up plans to open over 100 such exclusive outlets across the country and abroad in the next five years. The company has earmarked an investment of around Rs 300 million for setting up these outlets. To reach customers across the length and breadth of India, PEL will expand its retail presence through a network of franchisee stores and company-owned fashion galleries. By March 2004, PEL will have 15 stores in operation.
The Hakoba Fashion Galleries will merchandise embroidered fabric, ready-to-stitch salwar kameez dupatta sets and embroidered sarees. The range will soon be expanded to include ready-to-wear garments, furnishing, lingerie, gift articles and accessories, leading into a lifestyle store eventually.
Says a company spokesperson: "In the 50 years of Hakoba, this is for the first time that the brand will be retailed through its own exclusive outlets."
Hakoba is currently retailed through three exclusive fashion galleries located in Mumbai (Breach Candy, Mulund and Navi Mumbai). The fourth Hakoba Fashion Gallery (its first outside Mumbai) is located in Secunderabad, Andhra Pradesh, and has begun commercial operations.
For the year ended March 2003, PEL registered a 34-per cent increase in net sales. The company caters to the export demand in Sri Lanka, Bangladesh, Middle East, the UAE, the US and the UK.
