Mumuso, a renowned lifestyle brand of South Korea, intends to open more than 300 outlets across India by mid-2022.
The brand had ventured into Indian market late last year by opening stores in Mumbai and Kolkata and is now focused on expanding its presence to other metro and Tier II cites of the country.
Mumuso, with its wide range of affordable products, is keen to make its presence felt all over India. Reportedly, by mid-2022, the brand aims at a business turnover of Rs 1,000 crore.
Going forward, the brand also plans to tap the growing business of e-commerce in India.
Besides Delhi, the new outlets will be opened in Chennai, Bengaluru, Hyderabad, Kolkata, Pune, Surat, Goa, Jaipur and Indore.
The South Korean brand, in its effort to expand to India, would have a mix of both company-owned and franchise stores.
Further on the same, Raunak Agarwal, Managing Director, Mumuso India, said that the brand would invest between Rs. 80 lakh and 1.2 crore to set up company-owned and franchise stores in the country.
He also said that India is a rapidly emerging market for retail sector and therefore Mumuso predicts an escalated growth in a short span of time. The brand intends to source locally special apparels and small leather products.
