Donear Industries postpones retail launch to December; appoints cricketer Yuvraj Singh as brand ambassador
26 Oct 2007
Donear is a Rs180-crore company with a market capitalisation of Rs1,000 crore. It has a network of 44 agents, 290 wholesalers and 12,000 retailers across 29 Indian states.
The announcement about the delay in its retail plans was made by Rajendra Agarwal, managing director, at the launch of the company''s new Black and Blues collection of fabrics, adding, "Our plans have not been scrapped. It''s just that we want to announce one thing at a time."
Signs on Yuvraj Singh as brand ambassador. The company recently signed on cricketer Yuvraj Singh as its brand ambassador, who launched the collection. The company says that the collection will have "Fabric Integrated Technology", which will prevent the colour black from fading. The company says it plans to "own the colour positioning of black and blue" with this collection.
According to Agarwal, the company''s retail outlets will admeasure 600 to 1,000 sq ft, and will follow the franchisee mode. The main target segment for these outlets will be the age group of 16-35.
The company is reportedly planning to put in Rs100 crore into its retail venture.
Speaking
at the launch of the black and blues collection, Yuvraj Singh said , "Black
and blue are the colours worn at all occasions and preferred by men of all ages.
It looks good on me, it looks good on everyone."
