Arvind arm to franchise kidswear of US retailer
India's apparel major Arvind Ltd's lifestyle brands subsidiary will franchise for The Children's Place, the US-based largest kids' specialty apparel retailer.
"Our lifestyle brands subsidiary will open about 50 stores across the country in 2015 under the franchise agreement with The Children's Place," Arvind chairman Sanjay Lalbhai said in a statement here.
Touted to be the first of its kind children's retail format in the country, the stores will be a one-stop shop for kidswear from infants to 14-year-olds.
"As Indian kidswear market offers a huge opportunity, our game plan is to have dominant share," Arvind Lifestyle Brands chief executive J. Suresh said on the occasion.
As the largest pure-play for kids wear across North America, The Children's Place runs its own 113 stores in the US, Canada and Puerto Rica, while 54 international stores are operated by its franchise partners worldwide.
"We are making strides in our international franchise business and stay focused on providing great fashion and value for kids the world over," The Children's Place chief executive Jane Elfers said.
Lalbhai also hoped the designer stores will be a big attraction to mothers with young kids across the country.
As an integrated textile and apparel firm, the $1-billion (Rs.6,000 crore), the group's flagship company has a portfolio of owned and licensed brands and retail formats.
(Posted on 21-08-2014)