by Apparel Resources News-Desk
13-March-2018 | 2 mins read
British denim brand Pepe Jeans, which has been at the forefront of international denim-led fashion for the past 44 years, is reportedly planning to foray into the Indonesian market this year.
The fashion retailer, which has a presence in 61 countries across the globe, will open its first three stores Indonesia by next month while the fourth store will go operational by August this year.
The denim brand’s team based in India will look after the establishment process of stores, visual merchandising and overall store operations.
Pepe Jeans was founded by Indian-origin siblings Arun, Nitin and Milan Shah in London in the 1970s who began selling jeans at a weekend stall. The company currently retails its Hackett brand, owned by Pepe Jeans Group, internationally. In India, it operates through a joint venture with Aditya Birla Group, a multinational conglomerate headquartered in Mumbai.
Notably, Pepe Jeans India had posted a 16.3 per cent growth in its net profit to Rs. 49.21 crores in the financial year 2017. Its sales grew by 21 per cent to Rs. 424.06 crores.
Earlier this year, reports emerged that Pepe Jeans is planning to sell its 100 per cent stake in the India unit. It seeks Rs. 2,000 crores for the same.
Kavindra Mishra, Managing Director of Pepe Jeans India later termed such reports a mere rumour.
At least 1,000 multi-brand outlets and more than 200 franchise stores retail Pepe Jeans products in India. In 2016, reports surfaced that the fashion retailer is planning to increase its store count in the country by opening up 50 new stores.