Malaysia’s Kioda plans to enter India

Malaysian fashion and lifestyle retail chain Kioda is looking to enter India, through a joint venture with franchise Solutions Company Franchise India Holdings. Both companies are investing about 10 million dollars in next three to four years and will begin operations in Delhi.

The company founded five years ago in association with a Korean designer and has been expanding in Asia. The stores are based on Korean concept and experience. Over the next five years, the company is planning to open 200-300 concept stores in India. These will come up in New Delhi, Mumbai and Chennai. Globally, Kioda has over 40 outlets across 13 countries and retails products in nine categories health and beauty, seasonal products, handbags, textiles and knitwear, gifts and stationary, fashion accessories, digital appliances, and creative home.

Going forward, Kioda plans to source 10-30 per cent of its products locally and will import the rest from Malaysia. Kioda retails products at a price range of 2 to 50 dollars across the world and plans to take its revenue up to 100 million dollars in the next two years, up from the current 10 million dollars.