Bestseller India to scale ethnic wear portfolio
1 min read . Updated: 16 Aug 2022, 01:25 AM IST
Premium- The company will open 25-30 stores under Indifusion over 6-8 months and expand its presence in north and west India
NEW DELHI : The local arm of Danish fashion retailer Bestseller is set to grow its India portfolio following the acquisition of homegrown ethnic wear brand Indifusion in November 2021.
Bestseller India operates 20 brands, such as women’s western wear labels Only and Vero Moda, and menswear brands like Jack & Jones and Selected Homme. Globally, the retailer runs 2,600 branded outlets and 15,000 multi-brand and in-department stores across Europe, North America, Latin America, The Middle East, Australia and India. Bestseller added five more Indifusion outlets to its existing 10 stores since the acquisition and will go live on e-commerce portal Myntra this month.
Bestseller India spotted an opportunity in women’s ethnic wear that primarily dominates apparel sales in India, said chief executive and country head Vineet Gautam. “Indian ethnic wear is a very large market especially in the women’s segment and is growing. While on the western side we have many brands, we asked how to best cater to this consumer also," said Gautam. The ethnic wear market is estimated to be $20 billion, out of which over 90% is women’s wear.
The company will open 25-30 stores under Indifusion over 6-8 months, besides making it available in multi-brand outlets and online. Bestseller will start with expanding the brand’s presence in North and West India, Gautam said.
Indifusion was co-founded in 2017 by Sunil Goklani, who has over two-decades behind him in the apparel retail market. The brand is present in Mumbai, Delhi, Dehradun and Ambala, and sells kurtas, pants and ethnic wear for women at mass-to-premium price point. “This was something missing in our portfolio; hence to complete our portfolio and cater to the consumer we decided to get into the Indian wear market," Gautam said.
