Lux Group draws up strategic plan to strengthen base of ‘GenX’

Lux Group is a conglomeration of diverse brand portfolio across multiple product segments. Creating new benchmarks for quality and comfort has been fundamental in laying the foundation of the company and taking it to the epitome of success. With a mission to be recognized as the best Indian hosiery company globally and to drive the industry towards sustainable growth and development, the company marches along the growth path with renewed passion and vigor. Lux Group has been a visionary in nurturing and successfully positioning brands understanding the changing consumer sentiments in sync with the brand outlook. For the last 17 years Lux Group has marched against all odds in maneuvering and strengthening the base of their Tirupur based brand GenX. The brand has been a pioneer in men’s sportswear range and today GenX plays a pivotal role in reaching the consumers with attractive sports and fashion casuals at an affordable price. Presently, GenX has clocked INR 200 crore sales in this financial year and the brand aims for INR 350 crore in the next three years.

Echoing the brand ethos, Mr. Navin Todi, Senior Vice President, Lux Industries Ltd. iterated, “The Indian inner wear market continues to be underpenetrated and thereby it always holds immense business opportunities. Also, hosiery is one of the most unique markets amongst the major markets of the world today. A distinct shift from price sensitivity to brand sensitivity and preference for bold colors and innovative designs are two key trends that have emerged in our segment. Combining our deep homegrown instincts with generations of rich business insights, we have formulated some well-structured business principles that have enabled our enterprise to rise above the probable and go beyond.”

The brands under Lux Group are at the forefront of capitalizing on the underlying premiumisation opportunity in the innerwear category. To a typically unorganized segment, the company has brought forth an institutional culture that is most visibly reflected in its technology orientation. Continued focus on premiumisation, portfolio expansion in existing product segments (men and women innerwear), venture into new segments and penetration into upcoming growth centres are key factors considered to open up the potential for consistent and sustainable revenue growth.

Speaking at the conference Mr. Rahul Todi, Senior Vice President, Lux Industries Ltd. said, “In a characteristically traditional industry, we disrupt the status-quo by getting better and better – in effect, continuing to identify small cost reduction ideas that yield big results. Innovation is the key in both our products and production techniques, and an uncompromising effort to maintain comfort is a constant endeavor for us. Customer satisfaction is the foundation on which our company was founded, which remains our topmost priority.

GenX is now available in over 75,000 stores across 250 cities in India. The product range includes sports vests, briefs, drawers, shorts, capris, tracks, t-shirts. New range of products called Action Wear has been introduced in GenX which mostly constitutes of casuals with ultimate trend and style.

Lux Group has focused plans on diversifying into women segment with the launch of lingerie under their brands Cozi Her and Lyra. Aligning the brand values with that of the younger audience, Lux has recently roped in Bollywood star Varun Dhawan as a brand ambassador of flagship brand Lux Cozi. The company also host brands like ONN, Venus, Cott’swool. Classic, Karishma, Mozze and Inferno under its portfolio.

The company has commissioned a high tech integrated facility in Dankuni, West Bengal. The current optimal cutting capacity has reached 1.4 million pieces per day. There has been a significant margin growth owing to the enhanced operational efficiency and cost containment.

With its continued rural focus, Lux Industries is planning a substantial and strategic intervention in the urban areas in the coming quarters. The positioning of the brands and the marketing initiatives are skewed towards strengthening this changing market dynamics.