Tablez signs master franchise agreement with Grupo Cortefiel
Deal to bring Springfield and Women’ secret to India
Tablez, the brand retailing company is all set to unfold a new chapter in the retail landscape, in association with Grupo Cortefiel, one of Europe’s leading fashion retailers. In a gala ceremony held at the Shangri-La Hotel in Bengaluru on Thursday, Tablez signed a master franchise agreement with Grupo Cortefiel to bring two of its brands, Springfield - a youth-oriented casual fashion brand and Women’secret - an innerwear, swimwear and sleepwear brand to India.
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 Bengaluru. Springfield will have a mix of large format flagship stores and exclusive brand outlets, while Women’secret would mainly concentrate on exclusive brand outlets. A few Women’secret stores will be alongside the large format flagship stores of Springfield.
Springfield, the group’s most youthful and urban brand offers laidback casual styles based on the concept of real clothing for real people, while Women’secret is a brand created for and by women that work to develop a global reputation that combines prestige, femininity and modernity.
Adeeb Ahamed, Managing Director, Tablez, 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 demographic of India and emergence of fast fashion segment offers opportunity for rapid growth for both the brands.”
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.”
Tablez is a brand retailing company and has recently introduced innovative food brands like Bloomsbury - the Boutique CafÈ and Artisan Bakery, Galitos - Flame Grilled Chicken and Cold Stone - the Ultimate Ice Cream Experience to India.
CORTEFIEL GROUP was founded in 1880 as a family business in the Madrid Romanones street and is now one of Europe’s leading fashion retailers operating in the specialised chain segment. It is made up of four own brands: Cortefiel, Springfield, Women’Secret, Pedro del Hierro and an outlet chain: Fifty Factory. Grupo Cortefiel, headquartered in Spain has a network of more than 2,100 stores across 85 countries.