Leading Indian leather accessories brand Hidesign has announced an investment of $6 million globally to open 30 stores in selected countries over the next two years.
“We are going to open 30 outlets in international markets within the next two years by investing at least $200,000 on each store. We intend to open five outlets in South Africa, six in Russia, eight in China, three in the United States, two in the United Arab Emirates, and six in other global locations,” Dilip Kapur, president, Hidesign, told Indiaretailing.
“We will mark our presence in the overseas markets for high-end leather accessories. Recently, we opened a store in Shanghai at an investment of $300,000. If the Shanghai venture yields us the desired results, we might open over 30 stores in China, which is a high-potential market for our men’s collections. Our global expansion plan will be hence altered to open 100 stores in select countries,” said Kapur.
Speaking about his business plans in India, Kapur said that Hidesign recently opened its outlets in Noida and Gurgaon with an investment of Rs 50 lakh in each store.
He said, “With the same amount of investment per store, we intend to open nine more outlets by the end of 2008 in cities like Mumbai, Hyderabad, Bangalore, New Delhi, Chennai and Pune. We may also mark our presence in tier II cities like Jaipur, Ludhiana, Jalandhar and Visakhapatnam by the end of next year.”
– Bangalore Bureau