New Delhi, Jun 8 (UNI) Pantaloon Retail, a part of Future Group, has partnered Italian firm Fashion Box to bring its brand 'Replay' into the country and will spend 5-6 million dollars over the next three years for extending it into major cities.
''We would invest about 5-6 million dollars over the next three years to set up 10-12 Replay stores in six cities,'' Pantaloon Retail India Director Rakesh Biyani told UNI.
Of this amount, about 12 per cent will be spent on promotions, he added.
Presently, Pantaloon has tie-ups with 12 overseas firms in apparel segment in different formats.
The firm is also in discussions with other foreign firms for similar alliances, Mr Biyani said, adding that it plans to add another 3-4 million sq ft of retail space in the current fiscal through its different formats.
Talking about the Italian brand, Replay Head (Business Development) Brian Kreel said, ''Replay will provide product and marketing support, the rest of the India operations will be handled by Pantaloon through a specially formed unit within the company.'' ''We are scouting around for a location of a flagship store, and are looking at Delhi and Mumbai,'' said Mr Kreel.
Replay has a presence in 50 countries, though 90 per cent of its sales still come from Europe.
''India is a strategic market for us, and we are also looking to expand our operations in other Asian nations, especially China, Japan, South Korea, Hongkong, Thailand and Vietnam,'' Mr Kreel said.
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