Apparel Online India Magazine September 1st Issue 2018 | Page 46

DOMESTIC UPDATE TO ADVERTISE GOING TO A GOOD EVENT? Contact Rani Mahendru [phone] (512) [email protected] Send your industry gossip, photos and news to [email protected] Chinese fast-fashion retailer YOYOSO to soon enter India LuLu Group International’s subsidiary, Tablez has announced that it has inked a strategic cooperation agreement with Chinese lifestyle brand YOYOSO to launch the brand’s exclusive stores in India. The agreement was signed between Tablez’s MD and YOYOSO’s Founder in a recent ceremony held in Yiwu, China. During the ceremony, Tablez affirmed that it is eyeing to open 30 YOYOSO stores in country’s key locations in the coming 5 years. Notably, the Chinese lifestyle retailer stocks affordable daily fashion products and runs over 1,000 stores around the world. Adeeb Ahamed, MD, Tablez was quoted as saying, “We are thrilled to be collaborating with YOYOSO to bring the renowned fast-fashion leisure department store brand to the country. Its products are simple, natural, high-end and have great value. We believe that it will find its way with Indian consumers.” The parent company of Tablez, LuLu Group International had earlier announced that it will increase its yearly exports for its retail stores from China which currently lays between US $ 220 million to US $ 300 million. The company is also willing to invest US $ 200 million for setting up Hypermarkets in Yiwu along with other key cities in China. Ma Huan, President, YOYOSO marked out that the Indian market is one of the most important parts of the global market. Terming it as a great opportunity, Huan added that the mutual cooperation will bring plenty of surprises and happiness to the youth of India. Monte Carlo reports positive growth in first quarter Monte Carlo Fashions has announced financial results for the first quarter ended June 2018. During the quarter under review, the fashion retailer witnessed encouraging figures. The brand reported 50 per cent growth in the quarter under review as compared to the corresponding period last year. It is now aiming to strengthen its presence after noticing customer’s faith in it. Meanwhile, the premium fashion brand recently opened its retail outlet in Dwarka, New Delhi under its expansion plan. Monte Carlo is planning to add 100 new outlets in the country by 2022. It also unveiled its revamped logo. The company is also planning to develop its showrooms into one-shop destination to offer contemporary clothing with world- class quality at affordable prices. The Dwarka store opening has come close on the heels of store inauguration in Janakpuri in the city. The clothing brand retails its products through EBOs, MBOs and Large Formats Stores along with its website montecarlo.in. As of FY ’18, Monte Carlo’s pan- 46 Apparel Online India | SEPTEMBER 1-15, 2018 | www.apparelresources.com The brand reported 50 per cent growth in the quarter under review as compared to the corresponding period last year. It is now aimed to strengthening its presence after noticing customer’s faith in it. India retail presence comprised 234 EBOs (company-owned as well as franchised), over 2500 MBOs and 270 NCS, including large format stores like Reliance Retail, Shoppers Stop, Aditya Birla Fashion, Central and Kapsons.