Press Trust of India / New Delhi Jan 25, 2012, 13:43 IST
Spanish sportswear and fashion brand Kelme is entering India through a licensing and distribution agreement with Global Overseas and plans to open up to 10 stores during the first year of operations.
"India has been a part of our international plan for the last 3-4 years. Now, we are entering India in partnership with Global Overseas through a licensing and distribution arrangement," Kelme Director International Business Luca Gios said.
Ghaziabad headquartered Global Overseas is a part of the Singapore-based Sports Fashion (SF). Kelme is owned by New Millennium Sports that has tie up with SF for Asia Pacific region.
Elaborating on the plans for the Indian market, where the government had recently allowed 100 foreign direct investment in single brand retail, he said: "In the first year we plan to open 7-10 stores in the country. The first one has been set up in Delhi."
Gios said the decision to partner a local firm despite the opportunity to do it on its own is a part of Kelme's global strategy.
"We follow distribution and licensing model worldwide. You have to think globally and act locally," he said.
The agreement with Global Overseas also covers local manufacturing, he said.
"We will also give license to our partner here to locally manufacture some of the products. Local production should start in the next two to three months," he said.
The brand is present in 45 countries worldwide. Established in 1977, Kelme was the equipment sponsor of the Spanish Olympic team in 1992 Barcelona Olympic Games. It was also the sponsor of the Real Madrid football club from 1994 to 1998.
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