Italian luxury kidswear brand Monnalisa is set to enter India later this year with its first outlet in Delhi.
According to a PTI report: The brand, which is entering India through a franchise route, plans to open its first store by September this year.
“Monnalisa plans to open seven stores in India in top metro cities in the next five years. Monnalisa has inked a pan-India contract with expansion plans in Delhi-NCR, Mumbai, Bangalore, and Kolkata with FranGlobal with total deal size of more than Euro 4 million,” Venus Barak, CEO, FranGlobal told PTI.
FranGlobal is representing the brand and have appointed PDM University as the master franchisee for Monnalisa in India. The products will be fully imported and sold in India
“We plan to open first Monnalisa store in Delhi by September this year. Euro 4 million investment will go in setting up stores, inventory and marketing of the brand,” Chitresh Lather, CEO, PDM University was quoted by PTI as saying.
This is the second attempt of Monnalisa to make inroads in the Indian market. In 2006, it had signed a licence agreement with an Indian company, but the deal did not go through.
Monnalisa is spread across 65 countries and is a leader company in the childrenwear high market segment. It competes with Armani Jr., Burberry etc. They have products that caters infants to teenagers for both boys and girls with average ticket size of Rs 8000-10,000.