With a view to exploit diversifying luxury spaces in India, three high-end fashion brands from Turkish Orka Group namely, Tween, Damat and ADV, will enter the country by October.
Blues Clothing Company (BCC) of Delhi has joined forces with Orka Group as a franchisee to introduce the aforesaid three apparel and accessory brands in the country. The group has about 400 sales units in around 35 countries across the globe.
According to Executive Director of BCC, Abhay Gupta, multi-brand and standalone stores would be opened in the country for these brands. The company is an exclusive franchisee for many other brands such as Versace Collection, Corneliani, Cadini, VJC and Gianni Versace, which are leading Italian brands.
The menswear range, priced in the range of Rs 5,000-20,000, from the three Turkish brands will be launched by BCC. The current economic conditions of India are favorable for international high-end brands to acquire a foot-hold here, said the industry observers.
The Delhi-based group is also set to augment the number of units for the brands it retails in India. It intends to establish 25 more stores, including both multi-brand and standalone stores, by October, informed Gupta. For this, new venture, the group will be investing Rs 500 million through debt and internal accruals.
The annual turnover of BCC, at present, is Rs 1 billion, which is anticipated to reach up to Rs 2 billion by next year. Under the expansion plans, BCC will open new units of Versace, Cadini and Corneliani in cities like Delhi, Mumbai, Hyderabad and Bangalore.
Fibre2Fashion News Desk - India
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