French women’s fashion brand Promod, which currently has about 22 stores in India, is now going aggressive on the country’s market. Pursuing an omni-channel strategy, the brand is looking at having 100 retail stores come 2025.
Markedly, the envisaged expansion will comprise shop-in-shops (SIS) and standalone stores supplemented by e-commerce. And along with that, Promod is also eyeing a four-fold rise in its India revenues. It has already crossed Rs. 100 crores in sales in the country.
Importantly, online has now become a significant element of Promod’s future growth strategy in India. Hence, offline expansion apart, the brand is also looking to soon launch its own online operations in India, while it’s already available online via partner e-store(s).
“We sell through Myntra. However, we still have to consolidate the model. Besides, we are commencing promod.com, our own e-commerce portal,” Promod Global Managing Director Nadine Caux was quoted as saying.
Online is likely to contribute over 25 per cent to the brand’s retail business in India by 2025, according to the Promod Head, who, nevertheless, also underscored the significance of physical retail saying ‘To buy garments, we need to touch, see and experiment’.
Interestingly, Promod has been present in India – via a joint-venture with Major Brands – for around twelve years now, yet, its growth has been quite tardy as compared to its counterparts Zara and H&M.
Apparently, the brand thus far has focussed more on creating a loyal consumer base than on store count. Offering a unique fashion statement, in addition to global offering, it, as well, tweaks some of its merchandise to cater to the specific needs (in terms of designs and sizing) of Indian women.
Moving ahead, Promod also regards India as a potential sourcing hub in the coming years. It’s also charting out on investment plans for the country and the exact number is being finalised.
Notably, Promod is sold across 50 nations worldwide and roughly one-fifth of its global requirement at present is made or bought in India. While the apparel products like blouses, dresses and t-shirts are manufactured here, light fabric, cotton, embroidery, embellishments are sourced.
