Marc Cain plans five more stores in India

Citing increase in demand for luxury brands in India,

Germany-based women’s fashion brand Marc Cain plans to open five more stores in the current fiscal. Marc Cain currently operates two stores in Mumbai and plans to open another one to cater to the niche clientele. Marc Cain Franchise Stores owner in India and the UAE, Punit Agarwal says the plan is to open the first store in South Mumbai. Two will come up in Delhi and one each in Hyderabad and Bangalore. The estimated investments for each store will be at least Rs 3-4 crores, so they have set aside Rs 20 crores for the five stores.

The German company posted 100 per cent annual growth for the last five years and Agarwal expects Rs 30 crores worth sales from the new stores within a year. The company also plans to open stores in Kuwait and Qatar. They are already present in Dubai and plan to get into Qatar and Kuwait. Agarwal feels it is good opportunity. Right now they are in talks with the parent company to enter these countries. They expect it to happen this financial year or early next year. The investment in the two countries would be $2 million (Rs 10.7 crores) each because of higher costs.