Lux industries, gets Jacqueline Fernandez to endorse men’s innerwear
15 February 2023, Mumbai
Lux aims at a turnover of Rs 1000 crores by fiscal year 2026.
The company had clocked a turnover of Rs 550 crores in fiscal year 2022 and has been growing at a rate of ten per cent to 12 per cent over the last three years. The knitwear brand will beef up its presence in South India. Secondly, it has launched a new category for boys’ innerwear, Lux Cozi Boys.
In fiscal year 2023, the company earned a revenue of Rs 20 crores from this brand, which is only three percent of its total revenue. The target is that by fiscal year 2026, the boys’ innerwear brand should earn a revenue of Rs 100 crores which is ten per cent of its targeted turnover of Rs 1000 crores.
Finally, the company sees the need to increase the growth of its men’s innerwear category which is the company’s highest revenue earner. To increase the growth of the men’s wear segment, Lux has roped in Bollywood actress Jacqueline Fernandez to endorse men’s innerwear. This is probably for the first time an actress has been roped in to endorse a men’s wear brand.
Lux reduced prices in the December 2022 to January 2023 period as yarn prices have softened and has no immediate plans to increase prices.
