The Dutch lingerie brand Hunkemöller is all set to open four new stores in India, following the setting up of its first store at DLF Promenade Mall, Delhi.
The company, which is headquartered in Hilversum, stated that these new stores will be operational by end of March. The Dutch clothing company also plans to open two more stores in the coming two months in the National Capital Region (NCR).
The Dutch clothing company was initially founded in Amsterdam and is now a multi-channel retailer, and one of the largest lingerie specialists in Europe. The lingerie giant also plans to open stores in Mumbai, Pune, Kolkata and Chennai and is checking malls for an ideal location but hasn’t finalised anything yet.
Puneet Behal, Business Head, Hunkemöller, said, “We have opened a Hunkemöller store at Delhi’s DLF Promenade Mall on December 19, and will open two more outlets in the National Capital Region. We are also launching an outlet in Bengaluru during the same time period.”
Footfalls at the brand’s first store on opening day were 30 per cent higher than the company’s expectations, claimed Behal. “We are trending at close to 40 per cent in terms of conversion, which is fairly healthy for a mall store,” he said.
Speaking on the location hunt for the brand in other cities, Behal said, “It is difficult to find space in the existing malls. Therefore, we are very selective in choosing the location. While the Hunkemöller’s store in DLF Promenade is around 800 sq ft, its upcoming outlets at Noida and Gurgaon will be around 1250-1300 sq ft.”
Footfalls at the brand’s first store on opening day were 30 per cent higher than the company’s expectations and the brand, claimed Behal.
Hunkemöller plans to target the emerging markets like India and China, and earlier this year had entered into a long-term franchise agreement with Reliance.
“Lingerie is a very lucrative segment, largely because 95 per cent of it is unorganised. Organised Indian lingerie players mostly have a multi-brand presence and lack in retail presence. From the experience that we are offering, our conversion rates will be way higher,” added Behal.
However, the recent acquisition of Hunkemöller by the private equity firm Carlyle Group will not have any impact on its franchise agreement with Reliance, Behal said.
“They are very clear that the same management is going to run. They buy into the vision of the brand and how they want to grow it,” he added.
