New Delhi: Many leading Indian apparel retailers, including Arvind Brands, Reliance Brands and SKumars Nationwide Ltd, are gearing to bring in more global brands as they look to expand their portfolio within the next one year.
“As the retail sector is opening up, more foreign brands are looking up to the Indian market. They are looking for local partners here,” Arvind Lifestyle Brands head of marketing (Gant, Arrow & Izod) Amod Choudhary told PTI.
Hence Indian retailers are trying to tap the opportunity for a win-win situation.
“We are aggressively looking to bring in more global brands. By the end of next financial year, we will have more brands in our portfolio,” he said.
Arvind currently sells 11 apparel brands, including Flying Machine, Arrow, Gant and Izod among others. While premium formal wear brands have been their most successful ones, Choudhary said, adding casual and women’s wear are the future growth areas.
Likewise, SKNL group is also in talks with five international brands and plans to introduce one of them in the next five to six months.
“We are in talks with five international brands in the world. They are across all segments, across the board. In the next five to six months, we are bringing an English premium shirt brand in India,” SKNL Group president apparel and retail Ashesh Amin said.
Apart from increasing spending power among the youth, foreign retailers are eying the Indian market for their future growth as western countries were reeling under the economic slowdown in the last two years, he said.
Similarly Reliance Retail, which is currently planning to expand its apparel portfolio, said it is tying up with two international brands in the next two years.
“In the next two years we are likely to announce tie-ups with two more international brands,” Reliance Brands President and CEO Darshan Mehta said without mentioning the names.
At present, Reliance Brands sells apparel brands like Diesel, Timberland and Paul & Shark.
Recently Blues Clothing company, which sells luxury brands like Versace, Cadini and Corneliani, has also announced that it is planning to bring three Turkish fashions brands from Turkish Orka Group by this month.