Germany's Kanz ventures into India

New Delhi, Sept 6 (UNI) After marking its presence in 30 countries, Germany's Kanz today announced its foray into the Indian kidswear market, which is estimated at Rs 13,500 crore.

Kanz will sell their products in the country through licensing arrangement with Prateek, a domestic player in apparel manufacturing and design.

''India has always been a potential market for many big western companies for years now. We were on a prowl for a potential partner to enter the Indian market. Prateek being on of the pioneers in the Indian garment industry, they were a natural choice for us to partner with,'' Kanz Managing Director Ozgur Bender told reporters.

''This tie-up will add another dimension to the existing operations of Prateek. Kanz will be available in 25 major cities, through exclusive and multiple brand outlets,'' said Prateek Managing Director Pradeep Agarwal.

The kidswear would be available through a mix of exclusive brand outlets, presence in multi-brand outlets and a shop-in-shop at leading large format stores.

Kanz will open 100 outlets across the country in the first year of operation, Mr Agrawal said.

Prateek's ratail arm Prateek Lifestyle which rolled out its first first retail venture Coupon, a chain of value lifestyle malls, recently, is planning to come up with 50 malls across the country over the next three years, entailing an investment of Rs 400 crore.

''By 2010 we will have 50 malls pan-India and will pump in Rs 400 crore for this expansion,'' Mr Agrawal said.

Prateek Lifestyle also aims to have 100 retail outlets by the end of this financial year.

UNI