The Company has embraced the essence of Lux 2.0
At Lux, our competence represents the sum of alt our achievements,
which we seek to transform into a platform for robust sustainable growth.
Lux has been in business for over six decades. The Company began with
two goals in mind: to supply quality products and market products for the masses. The
Company focused on creating a virtuous cycle by widening its presence to generate superior
economies and generate a surplus that could be reinvested so sustain the growth momentum.
A few decades ago, the term 'sustainability' was not spoken of.
However, Lux was driven by sustainability principles with the objective of leading these
to enhanced brand visibility, revenues and surplus. The promoters of the Company may not
have been business school graduates but their thorough market understanding and handson
engagement translated into outperformance.
The promoters brought to the business more than just an alignment with
market conditions; they brought a distinctive 'boldness' as well. This intangible
personality represented our backbone and continues to be so. Contrary to people's opinions
about the Indian hosiery sector, the Company championed a distinctive style of working,
prioritising customer interests of quality, affordability, availability and accessibility.
Remaining bold to do bold
Lux dared to extend beyond the obvious through measured risk taking.
Did we succeed? Yes, even though few initiatives did not turn out as expected on account
of a timing mismatch. We were generally ahead of the curve, never far from it and the
experience derived out of mismatches made us think, function and deliver
disproportionately positive outcomes thereafter.
What were our bold moves? We expanded our sourcing network. We launched
products and features,
strengthened distinctive promotional methods, introduced new pricing
strategies and migrated from the mass segment to the premium. We implemented steps that
widened the market and accounted for a larger market share.
During the financial year under review, the Company deepened its
digital presence. Investments in digitalisation became the base for incremental
improvements across the supply chain; retailers now enjoy a direct access to Lux,
resulting in a real-time trend understanding; the Company responded with stronger online
marketing, informed decision-making, moderated costs and accelerated workflows. Going
ahead, digitalisation is expected to strengthen systems, workflows and stability.
The Company addresses a positive future on account of its
responsiveness and boldness. The Company continues to reinvest without altering its
strategic direction.
The Company embraces the essence of Lux 2.0, derived from a complement
of decades of experiences and the enthusiasm of our youthfulness, which are likely to
transpire into sustained outperformance.