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Highlights

18 Jul

Expansion

Grupo Cortefiel opens its first stores in India

Grupo Cortefiel opens its first stores in India

Grupo Cortefiel is opening its first Springfield and Women´secret stores in Bengaluru. The stores are opening in the oldest mall, the Phoenix MarketCity Mall, in the capital of Karnataka state, the country’s technology hub with a population in excess of 8 million people.

In October, six more points of sale for both brands will open in India, two more in Bengaluru, two in Mumbai and a further two in Chennai. More launches will continue next year, in line with Grupo Cortefiel´s strategy of international expansion.

The arrival of Springfield and Women´secret coincides with a period of growth in the urban fashion segment, led primarily by young people with an interest in new international brands. The Spanish textile company is responding to this demand with collections aimed at the increasing urban population.

The openings are a result of a new collaboration agreement between Grupo Cortefiel and its local partner Tablez Retail. It was signed last December by Antonis Kyprianou, Grupo Cortefiel’s General Manager for Franchising, and Adeeb Ahamed, CEO of Tablez Retail.

The objective of the Madrid-based fashion retailer, the third largest Spanish company in its sector by turnover, is to achieve rapid growth for both brands by targeting the sizeable population of young people in India.

The launch of Grupo Cortefiel’s stores in India comes just weeks after the Group’s debut in Cuba, where the first point of sale for Women´secret opened in Havana. The expansion into the Indian market with the Group’s main brands is an opportunity for the company to increase its success in a market with significant growth potential.

The Spanish company´s plans involve continuing its expansion in Asia, where Grupo Cortefiel is currently present in eight markets with a large footprint in countries such as China, the Philippines, Thailand, South Korea and Malaysia, among others.