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Loops & Knots to launch e-commerce portal in India
28
Dec '11
Loops and Knots, which specializes in trendy garments, fashionwear, nightwear, sportswear, lingerie, etc., will be entering the Indian market through the launch of its e-shopping portal loopsnknots.com in February next year.

The company has already inked a deal with a New Delhi-based company Blue Rabbits Apparels for the launch of its e-commerce portal, through which the company plans to offer its spring collection of apparel and accessories.

After launching the portal, the company plans to gradually set up physical outlets across India. The company will initially set up two stores within NCR and then add one outlet each in Jaipur and Chandigarh.

Slowly, Loops and Knots would set up a retail chain of stores across Tier II and Tier III cities in the country. By 2015, the company plans to have 200-250 outlets in India with estimated sales of about US$ 500-700 million.

Speaking to fibre2fashion, Mr. Rajendra Trakru, Global CEO of Loops and Knots, said, “The concept of 'Loops & Knots' is to deliver world class Products collected from different parts of the globe which are not easily available within the same country, at an affordable price and comfortable atmosphere.”

On choosing to enter the Indian market, he says, “In today's scenario, Indian women are more economically independent and ready to spend huge amounts to own something valuable with a brand.”

On the company's decision to launch an e-commerce portal before setting up physical stores, he says, “The team of Loops and Knots has been surveying and trying to understand the requirement of Indian women in today's scenario. We found remarkably diversifying scenario which changed not only with the States and Union Territories, but also even within it. So, we carefully crafted our marketing strategy and planned to get into e-commerce before entering into the actual stream.”

Informing about the loopsnknots.com portal, he says, “We are launching the right 'touch and feel' concept, as not many people are comfortable in using plastic money over the Internet and they want to have the feel of the actual product. In addition, we will also start a 30 days - 100 percent replacement scheme for any product which is not acceptable to the customer due to any reason. We expect that the Cash-on-Delivery (COD) with 100 percent both side freight borne by the company will attract even those who have never planned to shop online due to various reasons.”

Loops and Knots stores are currently operating in the United States, the Balkans and Eastern Europe.

Fibre2fashion News Desk - India

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