UK-based high street fashion brand gears up to open stores in India through franchise model.
Planet Retail, a company that operates department stores, exclusive brand outlets and shop-in-shops, has been signed as Monsoon’s franchisee in India.
Sources close to the development said Monsoon standalone stores ranging from 1500 to 3000 sqft are planned to open inside Planet Retail-owned stores across metros.
“India is a key part of fashion group Monsoon’s overseas plans. The group is looking at 200 stores in international markets,” a source said.
Monsoon would be a competitor to other foreign high street fashion brands operating in India such as Zara, Esprit, Vero Moda and Mango.
Monsoon’s entry into the Indian market is expected to be a success as it has potential to grow in the country like its foreign peers who are enjoying strong customer growth.
“There is a huge opportunity for Monsoon to tap into India, as there is no particular dedicated brand for women’s wear in the country,” said Arvind Singhal, chairman of Technopak Advisors.
Monsoon boasts a network of 1300 stores across 62 countries.
Planet Retail also franchise Accessorize, which is a sister brand of Monsoon, plus other international brands including Debenhams, The Body Shop, Next, Nautica and Lavie.