Kolkata: Dubai-based high street fashion brand Splash, part of the Landmark Group, will open 15 stores in India by 2010 with an investment of around Rs75 crore.
“We have just opened our first store in Hyderabad and the next will come up in Bangalore by the end of the year. We plan to have 15 stores in India by 2010.” Splash CEO Raza Beig told PTI.
Each store is expected to bring Rs12-15 crore revenue in a year. The 15,000 sq ft area allocated to each store is likely to cost around Rs5 crore. The group is not planning to bring in any partner for this venture.
The stores would house fashional apparel and accessories to suit a customer’s lifestyle and cater to the middle and upper middle segments of the market, Beig said.
Apart from local sourcing, bulk of the merchandise would comprise of imports from China, UK, Turkey and Bangladesh. “We are not planning to put up any manufacturing base in India as of now. Up to 60% of the apparel will be sourced from China,” he said.
Since opening its first store in Dubai in 1993, Splash has a presence in seven countries with 78 stores.