British designer brand Simon Carter today announced its foray into the India market through an exclusive partnership with Aditya Birla Fashion Retail.
Aditya Birla Fashion and Retail Ltd (ABFRL) had in May last year signed a licensing agreement to bring the London- based designer brand to India.
The brand, which launched its store in Mumbai, plans to open 10 more outlets in cities, including Bengaluru, Chennai, Mumbai, Delhi, Pune and Chandigarh by the end of FY'18.
"ABFRL will be investing about Rs 20 crore for brand building, manufacturing and product development besides about half a crore which would be the per store opening cost," ABFRL CEO Vishak Kumar told PTI.
Simon Carter's product range comprises of suits, jackets, shirts, blazers, jewellery and accesories for men, among others.
"This is a very interesting segment as there is no other established player in areas like jewellery and accesories for men and we see this at a about Rs 250-300 crore brand in the next three years," Kumar said.
Simon Carter retails his collections in 40 countries around the world. ABFRL has a portfolio of fashion brands with about 8,000 points of sale across the country which include more than 2,000 exclusive ABFRL brand outlets.
Simon Carter brand is also available online for sale on Myntra and on www.Simoncarter.In.
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