Stripe Apparel Ltd, part of Pantaloon Industries, will launch a new retail format called Bangkok Fashion, a concept based on “made to measure”. The kick-off will happen at Future Group’s Orchid City Centre mall in Mumbai, in the coming August.
Abhay Kumut, CEO, Stripe Apparel, told Indiaretailing that the precise nature of the arrangement and stakeholding percentage with Future Group is yet to be finalised. The initial agreement is for Bangkok Fashion to be placed within the group’s malls.
Kumut explained the rationale behind the name: “Bangkok is known for its tailoring worldwide. It offers one of the finest customised tailoring, in fact.” However, Bangkok will not be used for sourcing; it is simply a symbolic title.
With “Fit is God” as its unique proposition, the retail venture will be targeted towards the middle-income group of customers. Kumut explained: “We will offer to the customer the option of dictating a complete look for himself or herself. Our thinking is, ‘why should the customer compromise in terms of fabric, fit, or style’. The concept includes made-to-order accessories as well.”
The plan for this year is to have 10 outlets up and running across metros and tier I cities. The count is expected to reach about 40 in the next year. To include shop-in-shop as well as standalone formats, the latter will be in the range of 500-700 square feet in terms of retail area.
