BackAce Turtle to open 50 Lee stores this financial year
Flagship stores will be opened in high street and malls across all major metros. However, more stores come up in tier-2 and 3 cities
PremiumNew Delhi: Retail technology firm Ace Turtle will open 50 stores of casual wear brand Lee in the next 12 months apart from launching more products across price points as it enters newer markets.
In 2021, Ace Turtle entered into an agreement with Kontoor Brands to become Lee’s long-term licensee for India and other South Asian markets. Ace Turtle now sells Lee products directly to consumers via branded web-store (D2C), online marketplaces and physical retail stores across India. Ace Turtle manages the entire business of Lee in India including design, local manufacturing and marketing. Ace Turtle is also the exclusive licensee for brands such as Wrangler, Toys"R"Us and Babies"R"Us for India and other South Asian markets.
“We’re not allowed to share specific numbers but we are gung-ho about opening stores. Our whole model is omni-channel so when you get online orders and you ship from the stores, we are able to ship faster and our cost of fulfillment is going down. As we open more stores—it helps us ship faster and also keep costs low," said Nitin Chhabra, CEO, ace turtle.
The company operates 31 stores for denim brand Lee in India. The retailer is set to add another 50 stores in the current financial year. Flagship stores will all open in high street and malls across all major metros. However, more stores come up in tier-2 and 3 cities, said Chhabra.
Chhabra said the brand is experimenting with a wider assortment of goods targeting consumers across mid-to-high level of price points. “This year the mix is changing a bit, there are new products also being added at the top end, and at the same time, also at the lower end of the price line. So we are extending the pricing assortment. To be honest, that is on anticipation that there may be a slowdown on discretionary spending. As of now we have not seen it," Chhabra added.
Lee’s first flagship store recently opened at Brigade Road in Bengaluru. The 4,200 sq. ft store is the largest store for the denim brand in India, besides being one of the global flagship stores of Lee.
“The opening of this flagship store is a strong indicator of the massive potential of this iconic brand and the value it brings to Indian consumers. We aim to expand Lee’s reach across the country and take the brand to millions of Indian consumers," Chhabra said.
India has been a fast-growing market for Lee over the past few years, said John Gearing, Vice President and Managing Director, Kontoor Brands Asia Pacific. “We are working to cater to the evolving fashion preferences of young Indian consumers which are on par with their global counterparts," he said.
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