May 02, 2012 | comments ( 0 ) |
Women's fashion brand Marc Cain plans to open five more stores in India during FY 2012-13. The Germany-based luxury brand has signed Mumbai's VEMB Lifestyle Pvt. Ltd as its master franchisee. The company already operates two ‘Marc Cain’ stores in Mumbai. The brand will open one store in south Mumbai, two in Delhi and one each in Hyderabad and Bangalore to cater to the premium customer segment. The planned expansion will entail an estimated investment of about Rs 3-4 crore for each store. The brand is expecting to leverage from the booming luxury market worth Rs 3,000 crore in India, with annual growth rate of 22-25 per cent. Besides, the Indian master franchisee has also launched the Marc Cain stores in Dubai. The company also plans to open brand’s stores in Kuwait and Qatar.