by Apparel Resources News-Desk
01-November-2018 | 2 mins read
South Korean designer brand, Beccos has forayed into the Indian retail market by unveiling its first store in Kamla Nagar in New Delhi. Set to open 50 stores across 8 key Indian cities by mid-2019, the company has revealed its strategies of investing around INR Rs. 100 crore (approx $13.7 million).
“We see tremendous potential in the Indian market and will be expanding our retail presence to 50 stores by mid-2019, across key locations at an investment of over Rs 100 crore,” Dabin Wang, Global CEO of Beccos said, adding, “We expect a revenue of Rs 200-250 crore by FY2019-20.”
The company would have a mix of company-owned-company-operated and franchise store patterns.
Set to open two more stores in Delhi in the coming week, Beccos would carry an assorted mix of merchandise across categories. Beccos’s products have are designed by some of South Korea’s most influential product designers such as Limhion Pak, Boyeon Kim, Min Woo Lee and Jinhye Choi to name a few, and promise to offer aesthetically pleasing yet functional products for its customers at affordable price points.
The company is banking heavily on fashion and beauty products to drive growth in the Indian market and expects them to be the fastest-moving items across its stores.
Spread across 1,500 sq. ft, the Kamla Nagar store features 900 SKUs and merchandise across 8 categories –digital accessories, seasonal products, boutique and bags, stationery and gifts, creative homeware and household items, toys and baby care, fitness and outdoor products and lifestyle products.
The retailer plans to open its next two stores at Netaji Subhash Place and Lajpat Nagar by next week. According to Wang, “The upcoming store at Lajpat Nagar will be the flagship store of the brand, spread across 2,000 sq. ft.” he added saying, “To accelerate our aggressive expansion, we invite franchisees to be our partners in growth. With all the right ingredients, we believe Beccos will be warmly embraced and coveted by the savvy Indian consumer.”
Besides this, the company is looking at tapping the potential of online sales by introducing its own e-commerce portal early next year.