New Delhi, Mar 25 (PTI) German fashion brand Tom Tailor has chalked out long-terms plans for the Indian market with a target of 50-55 stores in three years to compete with the likes of Tommy Hilfiger, Jack & Jones and Vero Moda, among others. Also Read - Bangalore Under Night Curfew From Today: All You Need to Know About Restrictions Here
Having launched four stores in Delhi NCR, Bangalore and Pune, the company will open another four by the end of next month in major metros and is eyeing a revenue of about Rs 500 crore in five years. Also Read - Karnataka Govt Modifies Restrictions on Seating Capacity in Cinema Halls. Check Details
Besides, an investment of about Rs 80 crore is also lined up for opening over 50 exclusive stores in three years and 300 shop-in-shop (SIS) stores. Also Read - Bangalore Lockdown: No Relaxation in New Restrictions Till April 20, Says Minister; Claims Second Wave of Corona to Last Till May-End
In India, the Tom Tailor has roped in Inceptra Lifestyle Pvt Ltd, which owns the exclusive rights of the brand.
“We have identified most of the locations and will be opening about 55 exclusive Tom Tailor stores in three years. In terms of SIS, we will be present in 200 large format stores by the end of next financial year,” Inceptra Lifestyle Pvt Ltd Founder Devender Gupta told PTI.
The company’s core markets are Germany, Austria, Switzerland, the Benelux countries and France.
Gupta said in about five years time the company would be able to reach a revenue of Rs 450-500 crore in terms of the sales at the consumer level, on an investment of Rs 80 crore in both exclusive and SIS stores.
The company is looking to open stores in major malls and high end locations to compete with the rival fashion brands and also tap the e-commerce route to step up sales.
“Indian market has appetite for more brands and the consumers here are always ready to experiment. We are not in a market which is saturated,” Gupta said.
Tom Tailor is present in 35 countries with over 1,400 company stores and more than 11,600 other points of sale.
generating a revenue of 968.5 million Euros.
This is published unedited from the PTI feed.