s.Oliver, Germany's premium apparel brand, is planning to enhance its presence in India.
The company plans to have 55 outlets and 150 shop-in-shops pan India by 2016 and intends to invest a sum of Rs. 1.4 billion for the same.
In tune with the plan, the company has devised an aggressive expansion strategy for Tier-II cities, and cut its entry-level prices by more than 40 percent.
It is mainly eyeing Tier-II cities of North India like Amritsar, Patiala, Jallandhar, Ludhiana and Bhatinda for expansion. It is also looking for space to set up outlets in Ahmedabad, Surat, Patna and Lucknow.
s.Oliver plans to boost its growth rate in India from the existing 15-20 percent to 30 percent, through its revamp strategy. This would also create new employment opportunities.
s.Oliver partnered with Orient Craft brands to debut in Indian markets through a joint venture in 2007. It has now teamed up with Design Pod to facilitate its expansion plans. The firm proposes to establish itself as a key player in India's premium apparel segment by 2015.
Currently, s.Oliver runs 6580 outlets across 30 countries.
Fibre2fashion News Desk - India
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