Tuesday, August 17, 2010

Blues Clothing Company To Expand Premium International Retail Clothing Franchise Brands In India

NEW DELHI,: Three high-end fashion brands -- Tween, Damat and ADV -- from the Turkish Orka Group are set to enter India by October this year, to cash in on the expanding luxury space in the country.

Delhi-based Blues Clothing company has tied up with the Orka Group, that has presence in over 35 countries worldwide with nearly 400 sales points, as franchise to bring the three apparel and accessories brands.

"We are bringing these Turkish brands in India and will set up multi-brand and standalone stores by October," Blues Clothing Company Executive Director Abhay Gupta said.

Blues Clothing Company (BCC) currently is the exclusive franchisee for a host of other luxury brands, including Italy's leading names -- Versace Collection, Corneliani, Cadini, VJC and Gianni Versace.

The Delhi-based firm will be launching the menswear range from the three Turkish brands, with a price range of Rs 5,000 and Rs 20,000.

According to industry observers, the current economic scenario in India offers good potential for international high-end brands to make a foray here.

"Now sentiments are positive and there is willingness to spend on high-end luxury products. If the current economic conditions remain the same in India, luxury retail will surely kick off here," Retailers Association of India, CEO Kumar Rajagopalan said.

As per industry estimates, the super-premium fashion market in India is valued at over Rs 1,500 crore and is pegged to touch over Rs 5,000 crore by 2013.

Besides introducing the new labels, BCC will also increase the total number of stores for the various brands that it retails in India.

"The plan is to open around 25 new stores across brands by October this year, these will be a mix of both multi-brand outlets and standalone stores," Gupta said.

The total investment will be around Rs 50 crore, he said, adding it would be funded through a mix of debt and internal accruals.

Gupta said currently BCC has a total turnover of Rs 100 crore and is expected to be Rs 200 crore by the next year.

As a part of the expansion plan, BCC will open new Versace, Cadini and Corneliani stores in Delhi, Mumbai, Hyderabad and Bangalore.

Source:15 AUG, 2010, 10.45AM IST,PTI

Tags:ween, Damat, Adv, Orka Group, Blues Clothing Company, Abhay Gupta, BCC, Versace Collection, Corneliani, Cadini, VJC, Gianni Versace, Kumar Rajagopalan, RAI, Premium Retail Stores,

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