Renowned German apparel brand, S Oliver has announced its plans of widening its footprint in India by setting up 55 outlets and 150 shop-in-shops across the country by 2016 with an investment of Rs 1.4 billion, according to fibre2fashion report.
According to the plan, the German firm has envisaged an aggressive expansion strategy for Tier-II cities. In order to meet its objective, the company had cut its entry-level prices in excess of 40 percent, noted the report.
What is more, S Oliver is mainly targeting Tier-II cities up north, such as Amritsar, patiala, Jalandhar, Ludhiana and Bhatinda for expansion. The company is also looking for space to establish outlets in cities like Ahmedabad, Surat, Patna and Lucknow.
Furthermore, it is also planning to enhance its growth rate in the country from the current 15-20 percent to 30 percent, through its expansion plans. For, this would also create new employment opportunities, the report said.
S Oliver has forged alliance with Orient Craft brands to debut in Indian markets through a joint venture back in 2007. Moreover, it has now partnered with Design Pod to facilitate its expansion plans. The company also proposes to establish itself as an important player in India's premium apparel segment by 2015. Currently, it runs 6,580 outlets across 30 countries, added the report.