Forever 21 partners DLF for second innings in India

Forever 21, America’s premium apparel brand is venturing

into India once again after fading away in its initial foray in 2010. The Los Angeles-based brand plans to partner DLF Brands in its second coming. Through the partnership, company plans to open 40 to 50 stores in the next five years. In keeping with Indian sensibilities, the brand has slashed its entry-level prices by over 20 percent from the tags that it sported earlier in the country.

Now Forever 21 plans to woo middle-class customers with a starting price of just Rs 180. DLF is the 51:49 majority stake holder in the new partnership. The company plans to open 6 to 10 stores every year. Store sizes would vary between 8,000 square feet and 20,000 square feet. In California, the Forever 21 brand owns huge boutique stores averaging over 150,000 square foot in size. The brand has seven retail outlets in Delhi and Mumbai as of now. In its 2010 foray, Forever 21 had partnered West Asia-based Sharaf Retail group, and had just one store.

DLF Brands is a subsidiary of real estate giant DLF, and operates 150 single-brand stores for global brands such as Mothercare, Boggi, Ferragamo and DKNY through joint ventures or long-term franchise deals. The company is targeting Rs 1,000 crores revenues in the next three years.