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company to get Government approval to open 100 per cent foreign-owned stores in India .
Sourcing from India , Bangladesh , Turkey and some other countries , these brands make an offering which is difficult for Indian brands to emulate . Among the new entrants , H & M has already achieved a turnover of US $ 75 million in its first year ; starting with only 12 stores , it now looks to set up its first warehousing hub in India , as it expects to open another 50 stores in next two years . Zara is at about US $ 140 million , M & S is at about US $ 120 million and seems to be changing strategies to achieve a better growth like H & M . Even GAP is looking at opening 50 more stores in the next two years .
Other talked-about activities include the tie-up of Gap Inc with Arvind Group ’ s fashion portal NNNow . com to sell its products online , which will help the retailer expand its presence beyond metros and Tier-1 cities . Adidas India Private Limited has outlined plans of opening around 30-40 big flagship stores across Delhi , Mumbai and Bangalore , by 2020 .
In this invigorating environment , retail experts are predicting that in the next three years , over 50 more fashion retailers will be in India . Some of the brands that are looking at India are Evisu Genes , a Japanese designer clothing company that specialises in producing denimwear ; Massimo Dutti , a premium fashion brand from Spain offering sophisticated womenswear , menswear , footwear and accessories and New York-based designer brand Kate Spade , to be launched in India soon , which specialises in womenswear like dresses , tops and even athleisure .
Only recently Uniqlo announced its first store to open in Delhi in 2019 . Aeropostale , an American teen fashion retailer , has chosen to enter India over China , and expects India to be among its top three markets over the next four years with a revenue target of Rs . 500 crore ( US $ 74.12 million ). Ikea has just opened its first store in the city of Hyderabad in the Spring of 2018 and its future stores are planned
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in Mumbai , Delhi-NCR , Bangalore , Pune , Surat , and Ahmedabad , apart from plans for a robust e-commerce platform .
In fact , the list of investments announced by foreign companies is impressive . Women ’ secret and Springfield are coming to India through Tablez India , franchise partner for Grupo Cortefiel in India and Sri Lanka . Grupo Cortefiel India ’ s expansion plans will take the brands across major metros of India . Later in the year , six more stores for both the brands will open in the country – two in Bangalore , two in Mumbai and two in Chennai . On the same lines , by 2018 , Springfield will open nine stores and Women ’ secret will open 12 stores in India with presence in Bangalore , Mumbai and Delhi . By 2021 , the projection is to open 75 stores for both brands .
Selected Homme has been brought in India by Selected and Bestseller Retail India Pvt . Ltd . The brand offers a subtle and interesting addition to the premium menswear segment with its impeccable tailoring . The products include outerwear , blazers , cardigans , jumpers , tailoring , shirts , t-shirts , pants , shoes , jeans , accessories , shorts , sweatshirts , and undergarments .
Apparel retailer Max Fashion is mulling to double its turnover to Rs . 5,000 crore by expanding the footprint of its retail store network to 400 outlets in 120 cities . The retailer will invest almost Rs . 400 crore to open new stores over the next four years . Additionally , Max is also planning to expand store numbers
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ESSENTIALS
The FDI norms relaxation for single brand retail in the country , including relaxation of mandatory local sourcing requirement of 30 per cent , will also be a major boost for fastfashion majors to set up shops in India . Further , India ’ s improved performance on the World Bank ’ s ‘ Ease of Doing Business ’ ranking – moving up 30 places to rank 100th out of 190 countries – will further boost foreign investment in the country .
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of its value apparel retail format Easybuy . The company will clock a turnover of Rs . 2,400 crore as against Rs . 1,800 crore in the prior fiscal , with an aim to be a Rs . 5,000 crore company by fiscal 2021 . Max Fashion , which is owned by the Dubai based Landmark Group , currently operates 190 stores in 75 Indian cities .
Unfolding a new chapter in the Indian fashion milieu , British designer , Simon Carter marks his Indian entry with the launch of ‘ Simon Carter ’ menswear brand . Aditya Birla Fashion and Retail had signed an exclusive deal with the brand for the same . The Simon Carter menswear collection is a playful mix of prints and colours , tailored fit for the modern men to give them a sense of exuberance and style .
In the Luxury market , from Armani to Chanel and Ermenegildo Zegna to Versace , each has created establishments in the country . Neil Barrett , one of the leading Italian fashion brands , has forayed into the Indian market by establishing its retail presence through an exclusive partnership with Fervour , a multi-brand boutique that stocks international designer brands . Textile major Arvind Limited has announced a partnership with Sephora , owned by LVMH Moet Hennessy Louis Vuitton , a French luxury conglomerate , in order to enter into the beauty and cosmetics segment . Additionally , the already existing brands such as Gucci , Armani , Hugo Boss , Louis Vuitton , Hermes , Jimmy Choo , etc ., are eyeing the Indian market with renewed , country-specific , localised strategies .
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