Brandhouse Oviesse increases presence

Brandhouse Oviesse, a joint venture between Brandhouse

Retails and Italian fashion house Oviesse, will invest over Rs 150 crores to open 190 stores across the country in the next five years. Brandhouse Retails, which is a part of textiles major S Kumars Nationwide, holds the majority stake of 62.5 per cent in the JV that was formed last year. Oviesse opened its first store in Delhi’s Ambience Mall recently. This is the third store of the brand in India. The first store was launched in Bangalore on August 6, followed by Chennai. The store caters to men and women in the age group of 16-35 years, and offers a one of its kind stylish fashion shopping experience in the mid-premium segment.

Brandhouse Retails is the master franchisee for menswear brands like Reid & Taylor, Belmonte, Carmichael House and Stephen Brothers in India. The JV with Oviesse is aiming to achieve a turnover of Rs 1,500 crore by 2015 on the back of its business expansion. This is the first year of operations of the company, which has three stores at present. The company plans to open around 10 stores by March 2011 in all the major cities before entering other Tier I-II cities in the next two years.

Oviesse caters to women’s apparel and kids’ wear. Oviesse is a part of Italy-based retailer Gruppo Coin, which has turnover of 1.8 million euros. It currently has 487 stores across the globe. The company operates its stores and sells its apparel range under the brand OVS Industry.