Malaysian children’s wear brand Poney is expanding its presence in India, and has opened its latest store in Noida.
The store, the brand’s third in the country, has opened doors at the Mall of India. It will unveil its ‘Poney Enfants’ luxury range, a company statement said.
The brand is looking at investing Rs 30 crore to expand its India operations, including opening 25 more outlets over the next five years, according to a top executive at the company. Apart from opening five new stores every year, they are aiming at opening 100 shop-in-shop counters as well.
“We want to capitalise on the denizens of NCR (national capital region) as we have got a judicious space in the mall. The concept of the store is such that the premium and the luxury range are hosted under one roof hence it is a perfect store for us,” Managing Director and Partner, Rajat Kapoor, Poney India said.
Poney, which entered India last month, is targeting a turnover of Rs 100 crore over the next five years, says Kapoor.
Founded by Albert Tan and Madam Sharon, Poney offers supreme quality apparel for infants and children up to twelve years. All pieces are designed exclusively in Spain by Magda Sola, its Spanish Head of Design.
The brand has expanded its international presence in countries like Singapore, China, Indonesia and the UAE, among others. In India, it will compete with international brands Zara, Tommy Hilfiger and GAP Inc., among others.
India’s children’s wear market is estimated to contribute 22 per cent of the country’s apparel market by 2023, according to consultancy firm Technopak.