Celio to open 50 new stores in India by year-end

French menswear brand Celio, is planning to add over 50 more stores in India by the year-end, as a part of its retail expansion strategy. The company runs around 1,000 stores in countries across the globe.

Celio was launched in the country in joint venture partnership with Future Group, with first store opening in 2009. Today, it has a network of 41 stores and 128 shop-in-shops spread in cities like Ludhiana, Amritsar, Jaipur, Dehradun, Mangalore, Mysore, Kanpur and Nagpur, among others. The company is rapidly spreading its presence through franchise-owned franchise-operated (FOFO) model in the country and aims to open around ten franchise stores this year.

Having increased its India sourcing by 55 percent, the company is also witnessing over 7 percent of its business driven by leading e-commerce portals like Myntra, Jabong, Flipkart, Amazon and Shoppers Stop. Future Group recently divested a minority 31.5 percent stake in Celio Future Fashion for an undisclosed amount. Future Lifestyle now holds a 3.5 percent stake in the company.