“Kimaya will be introducing the brand in September under the label Max Mara by Kimaya. Initially, the brand will be retailed through exclusive Kimaya stores and the company plans to open exclusive stores in the near future,” a spokeswoman told Indiaretailing. The company has targeted major cities like Mumbai, New Delhi and Bangalore to set up exclusive Max Mara outlets.
Max Mara, also known as The House of Max Mara, is popular for its luxury women couture clothing. The Italian fashion house boasts a network of more than 1,200 retail outlets with a kitty of about 20 labels – among these, Sportmax, Weekend, I Blues, Penny Black and Marella (lower priced lines), Pianoforte (eveningwear), Max and Co (youth brand), and Marina Rinaldi.
According to sources, Kimaya is in advanced talks with some other international brands for India operations. Enquired about further launches, the spokeswoman informed: “We are in talks with a few more brands, but it will be too nascent to share the details. We will inform you as and when it happens.”
The company recently acquired a majority stake in Pam Mehta, a Delhi-based designer label that specialises in trousseau and bridalwear, for an undisclosed amount. “Kimaya is a major stakeholder in the Pam Mehta brand and we are looking at promoting the brand as an exclusive Kimaya label,” the spokeswoman added. According to sources, Pam Mehta is strong in the US market, while Europe and Asia are virgin markets for the brand. It also has its own labels, Ayamik men and Ayamik pret.
Asked about Kimaya’s retail expansion plans, the spokeswoman informed: “The company is all set to launch a new standalone boutique at Kemp’s Corner, Mumbai. We will open stores at the upcoming luxury malls such as DLF Emporio at New Delhi and the UB mall at Bangalore.”
The company is targeting a substantial increase in its revenue in this fiscal. “Kimaya’s turnover last fiscal was phenomenal and with Max Mara on our palette, we hope to exceed our last year’s turnover exponentially,” she claimed.
Kimaya, which houses collections of over 100 fashion designers, is also intending to raise Rs 175 crore over the next couple of years. “The company is considering various options such as private equity and will go public only in 2010,” according to sources.
– Vishnu Rageev R, Bangalore Bureau