Crew to retail accessories

Crew B O S Products, a Rs 350-crores exporter and a leading supplier of leather and fashion accessories

to global brands such as Esprit, Armani, Tesco, GAP and Chico’s, has decided to enter the Indian retail market. The company will float a wholly-owned subsidiary, Crew Republica Retail, for its retail foray. They will invest around Rs 80 crores to set up exclusive shops in Mumbai, Delhi and Bangalore and will initially sell branded bags, leather shoes, belts and some other fashion accessories.

The Indian fashion accessories market is pegged at nearly Rs 2,000 crores, of which bags, shoes and belts account for more than 50 per cent. The apparel accessory market was Rs 910 crores in 2008 and is expected to reach Rs 1,200 crore in 2012. Clutches and footwear by high fashion brands like Jimmy Choo and Hermes go all the way to super premium, amounting to several lakhs of rupees. The Indian accessories market now presents a dizzying range of styles and colors, almost unrecognizable from the drab range available just a few years back. Accessories make a statement, at Page 3 dos and celebs flaunt them just as they do the Prada or the Chanel they are wearing for that special night out.