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Apparel maker Arvind Lifestyle Brands has entered into a licensing
agreement with French couturer Elle to retail women's fashion wear in
India. The two companies aim to tap the exponentially growing women's
western wear segment.
On its part, Elle will be heavily localising to eat into the Indian
apparel market. Media conglomerate Lagardere Active Group owns Elle, the
world's largest fashion magazine.
Arvind Lifestyle Brands said it will open six exclusive Elle stores in
Delhi, Bangalore and Chandigarh by April this year. It will also be
retailed through shop-in shops. The company will also sell bags,
footwear and lingerie separately.
“Increasingly Indian women are showing preference for western wear. The
category is a Rs 1000 crore market and growing rapidly. Elle will be
positioned as a premium wear,” Mr J. Suresh, Managing Director, Arvind
Lifestyle Brand, told Business Line.
He said the company would invest Rs 15 crore in the first year to
develop the brand. The brand is targeted at fashion forward women in the
age bracket of 18-35 years.
Asked if the company will be importing the garment or would look at
local manufacturing, Mr Suresh said, “We are still getting direction
from Paris. Plans are underway to develop the market in the near term.”
Source: http://www.thehindubusinessline.com/industry-and-economy/marketing/article2896638.ece