The market for premium class fashion garments and accessories, currently growing over 20 per cent per annum, is presently worth Rs 1,000 crores in India. However, the turnover of low and mid-priced clothing and allied accessories segment is increasing at around 50 per cent per year. This was stated by Benetton Group chairman Alessandro Benetton in Mumbai while announcing a franchisee association with a Tata enterprise, Trent Ltd.
Mr Benetton said, "The fashion industry in India is currently booming at an exponential rate. As the demand for premium class clothing and accessories priced at over Rs 4,000 per piece is growing by leaps and bounds, the country’s fashion sector has become the most promising market to retail our various brands produced by us every year." Trent Ltd MD Noel Tata said, "We have signed a five-year master franchisee agreement with the Benetton Group to retail its premium class clothing and accessories branded by the name Sisley. Within the span of five years, we plan to open at least 30 Sisley stores accross metro cities of India at an investment of about Rs 50 crores."
Trent Ltd currently operates 27 Westside brand stores and 2 Star Bazaar brand stores. It recently bought a 76 per cent stake in the Landmark retail chain that currently sells books and music products in eight cities. The total income of Trent Ltd for 2006-07 was Rs 631.86 crores.
Wednesday, September 19, 2007
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