AV Birla Group chairman Kumar Mangalam Birla said at the launch of `Planet Fashion,' "We are targeting a turnover of Rs 500 crore for Madura Garments by 2003."

For the purpose, the company has launched `Planet Fashion' in Mumbai which showcases 100 styles in 4,000 shirts and 30 styles in 2000 trousers - premium brands in men's wear - Allen Solly, Louis Philippe, Spiritius and Van Heusen.

Apart from two Planet Fashions, one launched in Mumbai and Bangalore, Madura Garments plans to launch additional three Planet Fashions across the major cities where consumers will have the facility to browse through six additional brands including the product-line.

By doing this, the company plans to increase its market share in various segments. For example, in premium shirts from 30 per cent in the current year to 45 per cent by the year end 2003, in mid-price shirts from 10 per cent to 20 per cent, in trousers from 17 per cent to 35 per cent and in mid-price segment trousers from 6 per cent to 26 per cent.

Said Mr Birla: "The company has been enhancing value-creation for our brands due to rising effectiveness, increasing urbanisation and arrival of superior quality of raw materials, designing which ultimately depends on the consumers preference. In fact, the company is moving towards knowledge-based industries."

Of the Rs 6,000 crore ready-to-wear market Madura Garments has a market share of 25 per cent.

According to Madura Garments design consultant Stephen King: "The company has introduced innovative product designs in all premium brands to suit consumers preferences which is available internationally too." The company has spent Rs 30 crore on advertisement in the current year.