Chinese fast-fashion retailer YOYOSO to soon enter India
LuLu Group International’s subsidiary, Tablez has announced that it has inked a strategic cooperation agreement with Chinese lifestyle brand YOYOSO to launch the brand’s exclusive stores in India. The agreement was signed between Tablez’s MD and YOYOSO’s Founder in a recent ceremony held in Yiwu, China. During the ceremony, Tablez affirmed that it is eyeing to open 30 YOYOSO stores in country’s key locations in the coming 5 years. Notably, the Chinese lifestyle retailer stocks affordable daily fashion products and runs over 1,000 stores around the world.
Adeeb Ahamed, MD, Tablez was quoted as saying, “We are thrilled to be collaborating with YOYOSO to bring the renowned fast-fashion leisure department store brand to the country. Its products are simple, natural, high-end and have great value. We believe that it will find its way with Indian consumers.” The parent company of Tablez, LuLu Group International had earlier announced that it will increase its yearly exports for its retail stores from
China which currently lays between US $ 220 million to US $ 300 million. The company is also willing to invest US
$ 200 million for setting up Hypermarkets in Yiwu along with other key cities in China. Ma Huan, President, YOYOSO marked out that the Indian market is one of the most important parts of the global market. Terming it as a great opportunity, Huan added that the mutual cooperation will bring plenty of surprises and happiness to the youth of India.