American speciality retailer of children’s apparel and accessories, The Children’s Place will open its first store in India in August with a debut store at the Orion Mall in Bangalore. The retailer targets to open 4-5 outlets in India this fiscal across Delhi, Mumbai and Bangalore.
The New Jersey-headquarted kidswear chain has partnered with Arvind Lifestyle Brands to enter the Indian market. In an exclusive interview to Indiaretailing, J Suresh, Managing Director & CEO of Arvind Lifestyle Brands Ltd said,”We will unveil the first Indian store of The Children’s Place at the Orion Mall in Bangalore. We are looking at a total of 4-5 outlets for the chain in India this fiscal.”
“Kidswear is a category which we see huge opportunities in, but scalability and pricing mismatches have so far prevented large-scale branding in the segment in India,” Suresh added.
Technopak reveals that Indian apparel market is expected to grow at a compound annual growth rate (CAGR) of nine percent, from US$ 41 billion in 2013 to US$ 102 billion in 2023. In 2013, the kidswear segment, at US$ 8.3 billion, alone contributed 20 percent of India’s entire apparel market. Given its higher growth rate, this share is expected to increase to 22 percent by 2023.