Mumbai: Calvin Klein, the American premium clothing and accessories retailer, on 4 May 2007 announced its plans to open six standalone stores by the end of 2007 in metros such as Mumbai, Delhi and Bangalore.
These standalone stores will house the bridge collections which is priced higher than the existing casual wear collection. These stores will also stock jeans, underwear and Calvin Klein accessories, such as watches and perfumes, which are already available in India. The company also plans standalone stores for accessories—something that is unique to Asia.
Calvin Klein Inc., a subsidiary of the $2.09 billion (Rs8,400 crore) Philips-Van Heusen Corporation, also last week launched its three “store-in-store” stores in Mumbai. The store-in-store—an area of a big store which only stocks Calvin Klein products—currently showcases its range of underwear, jeans and casual wear collections.
The company, named after the celebrated American designer who launched it, entered India in a tie up with the Murjani Group, which is also the Indian partner for two of Calvin Klein’s potential competitors —Tommy Hilfiger and French Connection United Kingdom. The Murjani group will try to locate stores of the three premium brands close to each other, as it as it sees value in such an arrangement. “We believe that having complementary shops and restaurants close by will drive sales for each of the brands and help make the store area in to a high street destination,” says Vijay Murjani, managing director of the Murjani Group.
India’s premium clothing market has seen much action in the past one year. British clothes retailer French Connection United Kingdom was launched in March 2007. French premium clothing retailer, Esprit announced it would expand it’s range here and Spanish retailer Zara is said to be looking for an Indian partner. India’s luxury market is growing at 20% a year, according to estimates, fuelled in part by the growing disposable income of the urban young.
Calvin Klein, known for his minimalist designs, started his business with a coat shop in New York in 1968. Klein became nearly as well known as his provocative advertising campaigns featuring seemingly underage models and celebrities, such as Brooke Shields and Mark Wahlberg, as for his jeans and couture clothes. In 2002, Calvin Klein Inc. was acquired by shirt maker Philips Van Heusen Corp.
The Murjani Group, which has launched it’s premium brands, will also launch several other luxury brands, including Gucci, an Italian clothes and leather goods brand, La Perla, the Italian clothing and lingerie maker and Jimmy Choo, the British shoe specialist, in September 2007. The group is building retail space for it’s luxury brands in Palms, which was the coffee shop of the five star Hilton hotel in Mumbai.