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October 31, 2006
From: www.just-style.com, 31 October 2006
Benetton brand Sisley has entered the Indian market with a store in capital New Delhi.
The store, which is almost 400-sq-m big, contains Sisley women’s and men’s clothing collections plus accessories ranges.
Speaking at the official opening of the store, Benetton Group chairman Luciano Benetton said: “The launch of our trendsetting label in India strengthens Benetton’s presence on a market that is strategic for us, and with which relations are becoming increasingly strong and profitable.
“The expansion plan includes not only the opening of new stores
in Delhi, but also the exporting of this experience to other
major Indian cities. I am certain that Sisley will gather the
same success and the same admiration which sophisticated
Indian customers have shown United Colors of Benetton.”
Top fashion brands have been increasingly investing in the Indian market recently as its retail sector, helped by an increasingly affluent consumer class, continues to accelerate its pace of growth.
As Devangshu Dutta, chief executive of advisory and business services firm Third Eyesight, said earlier this year: “With growing urbanisation, we see a sustained growth in the (Indian) consumer market. Credit and debit spending is rising by 30%-40% a year.”
1968-established Sisley has 850 retail outlets globally. Benetton’s other brands include United Colors of Benetton, Playlife, and Killer Loop.
Benetton India said in June it plans to open 100 stores in India by the end of the year, adding to its existing chain of 80 stores.
The company is also developing India as a sourcing hub for its Asian market, which it has identified as the growth engine of the future.
