Advertisement

BW Businessworld

Spanish Fashion’s Retail Brands Springfield, Women’secret Debut In India

Tablez India, franchise partner for Grupo Cortefiel, is going to open 75 Springfield and women’secret stores in India by 2021. Six stores to be added by end of 2017 in Bengaluru, Mumbai, and Chennai

Fashion conscious Indians have a reason to celebrate as popular Spanish fast fashion brand Springfield and innerwear brand women’secret has set up shops in India.

Tablez India, a part of LuLu Group International, announced the opening of the first Springfield and women ‘secret store in India in partnership with Grupo Cortefiel, a leading Spanish fashion retail group with presence in over 89 countries.

Tablez India, with diverse interests in Fashion, Speciality retail, and F&B, holds the master franchise rights for Grupo Cortefiel’s brands - Springfield and women ‘secret, in India and Sri Lanka.

Tablez India is headed by Adeeb Ahamed, who is also the Managing Director of LuLu Exchange Holdings and Twenty14 Holdings.

The first Springfield and women’secret stores located in Phoenix Market City Mall, Whitefield was formally inaugurated by Eduardo Sanchez Moreno, Deputy Head of Mission, Embassy of Spain in presence of Adeeb Ahamed, Managing Director, Tablez India and Antonis Kyprianou, Group General Manager for Franchising at Grupo Cortefiel.

Springfield is a popular Spanish casual wear lifestyle brand with presence in 941 stores across 73 countries. It will be sold through a mix of large format flagship stores and exclusive brand outlets in India. The brand will offer international fashion for both men and women between the age of 18-35, looking for urban casual and trendy wear. It is a brand that showcases about 60 per cent of men’s clothing and 40 per cent of women’s clothing.

Women’secret, with the presence of 630 stores across 50 countries, is a lingerie and innerwear brand from Grupo Cortefiel and will be retailed through exclusive brand outlets in India.

On the occasion of the launch, Adeeb Ahamed, Managing Director, Tablez India, said, “We are pleased to open the first stores of Springfield and Women’secret in India and look forward to providing a unique branded shopping experience to our consumers.”

Speaking about the group’s India expansion plans, he said, “Our India expansion plans will take the brand across major metros of India. Later in the year, six more stores for both the brands will open in India - two in Bengaluru, two in Mumbai and two in Chennai. By 2018, Springfield will open 9 stores and women’secret will open 12 stores in India with a presence in Bengaluru, Mumbai, and Delhi. By 2021 we hope to open 75 stores for both brands.”

Antonis Kyprianou, Group General Manager for Franchising at Grupo Cortefiel, said, “India is one of the most important markets for us and we are excited to launch our very first stores in the country at Bengaluru. Springfield and women´secret have both entered India at a time of robust growth in the urban fashion sector in the country, fuelled by growing interest of the large youth population in international brands. We are sure that Indian consumers will appreciate the fresh fashion appeal of our line of casuals from Springfield and innerwear from women’secret.”

When Adeeb was about the short term goals of the group, he said, “Next category we plan to concentrate on is the children category. Very soon we will be setting up the first store of a Baby clothing brand which is expected to happen in next two months’ time.

The group plans to invest around Rs 250 crore to Rs 300 crore on different brands in India in the next five years.

“E-commerce is two years down the line approach for us. We currently feel that about 1 per cent of people in India may know this brand Springfield. The whole idea now is to get the brand and its products get associated with the Indian consumer base. Make them use it, try it, get them to get used to that product. Get them to like us and that’s when we feel it’s the right time to go Omni channel so that they will know what to order online”, said Adeeb when asked if he plans to go online.

When asked about his opinion about the ‘supermarket’ approach and if he would plan to adopt this for the new brands being introduced, Adeeb said, “We wouldn’t sit perfectly well with their concepts. What Big Bazaar and Shopper Stop does is a format that is comfortable for them. The whole idea for us is to have a standalone store with our own format of working.”

“In India, it's a minuscule turnover at this point of time we only have around 9 outlets last year we closed down around Rs 9 crore turnover this year we looking to close, close to Rs 130 crore rupees turn over,” added Adeeb when asked about the year-on-year turnover of the group.

Grupo Cortefiel is focused on their expansion in the Asian continent, where they are currently present in eleven markets with a large presence in countries like China, the Philippines, Thailand, South Korea, and Malaysia, among others.



sentifi.com

Top themes and market attention on:


Advertisement