Brand Concepts plans to invest around Rs 5,000/sq.ft. to open eight exclusive Paris Hilton stores in India this fiscal with an average size of 500- to 600-sq.ft. carpet area. The company has recently tied up with Retouch Brand to license Paris Hilton handbags and accessories collection in India.
Abhinav Kumar, CEO, Brand Concepts, said: "Out of all the EBOs that we open, 25 percent would be company owned, while 75 percent would be based on franchising model. We have robust plans of opening at least 50 stand-alone stores of Paris Hilton handbags and accessories along with more shop-in-shop outlets within large formats or multi-branded stores. Our main functional area is to promote the brand in the country. We would be marketing and distributing the products across all the major metros and tier I and II cities."
Given six months of operations from now, the company is expecting to sell around 15,000 pairs contributing 7.5 crore at retail value. The core age group targeted is between 18 and 32 years.
Depending on the location, Brand Concepts expects sales between Rs 1,500 and 2,000/sq.ft. from tier I cities and between Rs. 1,200 and 1,500/sq.ft. in tier II cities.