icono de rss

Highlights

09 Dec

Expansion

Grupo Cortefiel signs an ambitious expansion agreement in India

Grupo Cortefiel signs an ambitious expansion agreement in India

Grupo Cortefiel signed yesterday an expansion agreement with Tablez Retail Group to bring two of its brands, Springfield – a youth-oriented casual fashion brand and Women’secret – an innerwear, swimwear and sleepwear brand, to India and Sri Lanka in a gala ceremony held at the Shangri-La Hotel in Bengaluru. The agreement outlines plans for 60 stores in India over the next five years. The first store is slated to open by April 2017 in one of the premium malls in Bengaluru.

Antonis Kyprianou, Group Franchise General Manager, Grupo Cortefiel, said "It has been our long intention to enter the market in India, as its one of the most important markets but at the same time challenging. For every international company that wants to be successful in any market outside of their home market, one of the most important parameters is finding the right local partner. With Tablez team we share the same vision and passion for this market and for this reason we decided to partner together on this challenge.”

Adeeb Ahamed, Managing Director, Tablez Retail Pvt. Ltd. said “We are pleased to sign this master franchise agreement with Grupo Cortefiel. We see tremendous potential for brand retailing in India and we are delighted to have aligned with Grupo Cortefiel, which has an outstanding track record in fashion retail. With the introduction of Springfield and Women’secret, we aim to expand our footprint in the lifestyle and apparel brand segment. The young demographics of India and emergence of fast fashion segment offers opportunity for rapid growth for both the brands.”