The Rs 3,840-crore textile and apparel major S Kumar?s National (SKNL) is planning to expand Brandhouse Oviesse, a joint venture between SKNL?s fashion retail business Brandhouse Retail and Italian apparel retailer Oviesse. The company will open 150 Oviesse stores across major metros and tier I cities of the country in the next five years.
Oviesse, which was launched here in August 2010, currently has 3 stores and plans to open 8 more by March 2011, said Anjani Kasliwal, director, Brandhouse Oviesse. ?Oviesse is a fast fashion brand, which offers Italian designs and fashion at a mid premium price. We are very optimistic about the market for Oviesse and we will be opening 150 stores in the next five years,? Kasliwal told FE. Brandhouse Retail owns 63.5% share in the JV, while Oviesse, part of Italian fashion retailer Gruppo Coin SPA, owns the rest.
According to Kasliwal, the company, which brought luxury brands such as Dunhill, super premium labels like Stephen Brothers and premium brand Reid & Taylor to India, is expecting an influx of international fashion houses in the luxury, super premium, and bridge-to-premium categories over the next year. This will include sports wear, men’s accessories, and brands in the casual and formal categories.
?We will be looking at a sports wear brand, a young casuals brand, a formal brand, and a men’s accessories brand. So, that is at least four to five brands, most of which will be in 2011,? said Kasliwal.
? We had spoken to several brands before the recession and at that period they had to reconsider their strategies, and they kept expansion aside. Now, you will see a huge influx of brands from our end and in the market as well,? she added.