Fashion United: Growing at 25 to 30 per cent every year, ethnic wear brand Shloka from Nem Creation is targeting a 40 to 50 per cent growth in the coming two to three years. The brand will also introduce kid’s ethnic collection apart from doubling its men’s ethnic range. Talking about Sholka’s journey since its inception in 2005, Nikhil Khimshia, Director, says, “Initially, business was good there were few manufacturers, so a large
vacuum and big margins. We had no difficulties establishing the brand. Our competitive price range of kurta is from Rs 1,500 to Rs 7,500; sherwanis starts from Rs 3,500 and going up to Rs 35,000. We are also into exports, exporting our product to nine countries including UK, US, Singapore and Bangladesh.” The Shloka range goes to 150 retailers in states like Gujarat, Maharashtra, Delhi, Madhya Pradesh, Tamil Nadu and Andhra Pradesh. The brand now has plans to enter the Northeast and Rajasthan. “Going ahead, we are planning to deal with the LFS at present. We are planning to open our own EBOs in cities like Hyderabad and Indore, and then another couple of stores in Tier I cities by 2012. However, the market is unstable and the global meltdown and continuation of price rise due to excise duty is still on. So we are still pondering on whether to launch our own EBOs this fiscal,” Khimshia explains. Read Full: Shloka: Ethnic kids’ wear in the offing - Fashion - news - Fashion News India, jobs, network, apparel, business
