Esprit's EDC to open 25 stores by 2010
New
Delhi,
Nov
7:
Targeting
Rs
30,000
crore-branded
apparel
market
in
the
country,
Esprit
group
company
EDC
has
said
it
will
set
up
25
stores
across
the
metro
cities
over
the
next
three
years.
''At Esprit, we recognise the strategic importance of India as a key market and the next step was to bring EDC to India. Globally, the young brand is doing brilliantly with a contribution of over 20 per cent to our total market share,'' said Esprit President (Asia Pacific) Wolfram Hail.
Esprit, commenced its operations in October 2005 and currently has 16 exclusive stores and 12 shop-in-shops in the country.
The brand has been brought into the country by Aditya Birla Group's apparel firm Madura Garments.
''The stores will be present in malls as we believe that our market lies in the metros,'' Mr Hail said adding that the company has signed deals with major mall developers in the country for setting up the brand in India. He, however, refused to divulge the details of the deals.
EDC
will
also
bring
in
home
products
like
towels,
furnishings
in
the
next
three
years.
''We
would
definitely
expand
our
range
and
bring
in
home
products
over
the
next
three
years.
The
shoe
business
is
doing
quite
well
in
Europe
and
we
are
considering
to
get
that
to
India
as
well,''
Mr
Hail
told
UNI