Kishore Biyani-promoted Future Group is all set to introduce Italian denimwear brand Replay this month. Initially, the group plans to roll out two exclusive stores in New Delhi, followed by launches in Mumbai and Bangalore.
“The group has already signed an agreement with Fashion Box, the company that owns the €500 million Replay brand, to be the distribution franchisee in India. In the first phase, we plan to have two stores of around 2,000 square feet each, in New Delhi, at a cost of about Rs 30-40 million per store. We plan to open around twelve stores in Mumbai, New Delhi and Bangalore for this brand,” a company spokesperson told Indiaretailing.
Priced between €70 and €200, the Italian Replay is expected to compete with similarly priced luxury brands like Diesel. Talks are on to bring in more international brands to the country. When quizzed about the possibility of bringing such brands, the spokesperson informed, “We are talking with many brands that have expressed keen interest for India operations. We may sign a deal next week with another brand.” He declined to furnish further details.
Meanwhile, it is also learnt that the company is planning to bet on its in-house brands like John Miller, Buffalo, Lee Cooper, Bear and DJ&C. The group expects to generate sales of Rs 3-4 billion from its in-house brands, up from the current Rs 1 billion.
Kishore Biyani’s pursuit of more viable formats will see the group’s foray into financial services, media, insurance and other similar money-making sectors. This will also see the group’s ad spends climbing to Rs 6-7 billion per year over the next three years.
The group has also signed on as the title sponsor for the one-day India-Australia cricket series, which commenced at Bangalore recently. “The idea is to utilise this association to ensure our message reaches, because young India is a confident India, which is also what our brand stands for,” said Pantaloon Retail India Chief – Marketing Dupindera Sandhu. “Each of our brands will have its own need. Depending on the need and the fit, we’ll promote each brand. All the brands will be there over the three years that we will be anchor sponsors with Neo Sports,” informed Sandhu.
For promotion, the company plans to spend Rs 3 billion at group level.
– Vishnu Rageev R, Bangalore Bureau