New Delhi: Global swimwear and beachwear company Bananamoon today said it is venturing into India with plans to set up 10 stores and a series of shop-in-shops under the franchisee model by 2011.
The company, which has operations in 54 countries across the world, has entered into a seven-year strategic partnership with the Franchisee India Brand (FIB)for exploring the Indian market.
“The Indian market offers immense potential and we plan to set up specialty stores for both swimwear and beachwear and also general stores for our range of clothing accessories, shoes and other goods,” Bananamoon Global Exports Manager Nicolas Fouchet told PTI.
He was speaking on the sidelines of the Franchisee India 2008 summit here in the capital. Fouchet said while FIB would be making the investments for setting up the stores, Bananamoon would be responsible for design and production of the range.
“We are basically targeting big cities like Delhi and Mumbai, besides tourist destinations including Jaipur and Goa. We are planning to launch our entire range in India, which will include separate options and concepts for each segment,” he said.
Fouchet added that if the partnership was successful, the company might look at upgrading it to a full-scale joint venture.