British designer brand Simon Carter has marked its foray into the India market through an exclusive licensing agreement with Aditya Birla Fashion Retail.
Aditya Birla Fashion and Retail Ltd (ABFRL) had in May 2016 inked a licensing agreement to bring the London- based designer brand to India. The brand launched its first store in Mumbai.
Further the brands plans to open 10 more outlets in cities, including Bengaluru, Chennai, Mumbai, Delhi, Pune and Chandigarh by the end of FY’18.
“ABFRL will be investing about Rs 20 crore for brand building, manufacturing and product development besides about half a crore which would be the per store opening cost,” ABFRL CEO Vishak Kumar told PTI.
He further said the collection will be a mix of imports from UK and merchandise created by the company in India.
Simon Carter’s product range comprises of suits, jackets, shirts, blazers, jewellery and accesories for men, among others.
“This is a very interesting segment as there is no other established player in areas like jewellery and accesories for men and we see this at a about Rs 250-300 crore brand in the next three years,” Kumar said.
Simon Carter retails his collections in 40 countries around the world. ABFRL has a portfolio of fashion brands with about 8,000 points of sale across the country, which includes more than 2,000 exclusive ABFRL brand outlets.
Kumar said in the next two months around three stores will be opened in Delhi followed by Bengaluru and others.
Simon Carter brand is also available online for sale on Myntra and on www.Simoncarter.In.