Mon­nal­isa to open its first store in In­dia by Septem­ber

Apparel Online - - Retail Current -

Bet­ting on the op­por­tu­ni­ties avail­able in the In­dian kidswear mar­ket, Ital­ian lux­ury kidswear brand Mon­nal­isa has inked an agree­ment with FranGlobal, the world­wide busi­ness aug­men­ta­tion of Asia’s largest fran­chis­ing So­lu­tions Com­pany, Fran­chise In­dia Hold­ings Lim­ited, to pave its way into the coun­try. The deal, val­ued at more than Euro 4 mil­lion, will see the es­tab­lish­ment of new stores, set­ting up in­ven­to­ries and mar­ket­ing of the brand in the In­dian mar­ket. Mon­nal­isa is plan­ning to open its first store in the na­tional cap­i­tal, New Delhi. A to­tal of seven stores of the brand, which will com­pete with la­bels like Ar­mani Jr., are likely to be set up in the Tier I cities of In­dia in the next five years. Delhi-NCR, Mum­bai, Bengaluru and Kolkata are the ma­jor lo­ca­tions where Mon­nal­isa’s stores will come up, FranGlobal CEO Venus Barak was quoted as say­ing.

Cur­rently, the brand has its pres­ence in 65 coun­tries across the globe and is the lead­ing com­pany in the high-mar­ket kidswear seg­ment. The pro­posed stores will sell fully im­ported prod­ucts in In­dia. PDM Univer­sity has been roped in by FranGlobal as the master fran­chisee for the la­bel in the coun­try. No­tably, it was 2006 when Mon­nal­isa first tried to explore the In­dian mar­ket by sign­ing a li­cence agree­ment with a lo­cal com­pany but un­for­tu­nately, it could not be­come a re­al­ity then. The kidswear in­dus­try is grow­ing world­wide. In In­dia and China alone, this prod­uct seg­ment is ex­pand­ing at a 12-15% CAGR while even a sat­u­rated mar­ket like the United States is grow­ing at 5.7%.

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