Arvind Lifestyle Brands, a subsidiary of Arvind Ltd., has brought the US-based The Children's Place through a franchisee agreement as a new offering in its children's clothing category.
The company opened its first standalone store in Bangalore last week. It plans to come out with 40 stores across 15 cities in the country in the next three years. It will also be available in Shop in Shop (SIS) format for which it has tied up with Shoppers Stop and will also be available in 120 other SIS in 30 cities in India.
The company has already made its presence in the children's clothing segment -- in the super premium segment with Tommy Kids, Gant, Nautica, Gap stores, premium category with Polo, Elle, Gap, in the value segment at Mega Mart (its own value retail chain) with US brand Cherokee and its own in-house brands, besides the recently launched The Children's Place which is aimed at the mass premium segment.
The $1.8 billion The Children's Place is large in terms of size and preferred brand, says J Suresh, Managing Director and CEO, Arvind Lifestyle Brands Ltd. It is one of the largest pure player in the children's category in the US and has a presence in Latin America and West Asia. The company designs, contracts to manufacture, sells and licenses tosell fashionable, high-quality merchandise at value prices, primarily under the proprietary The Children Place, Place and Baby Place brand names. As of May 2, 2015, the Company operated 1,092 stores in the United States, Canada and Puerto Rico, an online store and franchise partners.
Adrienne Gernand, Senior Vice President International, The Children's Place, Inc. said that the company comes out with five fashion seasons for children's clothes. "India is a fabulous market with its growing size and we have offerings to match price points, a wide product offering to suit this market," Gernand said.
The Children's Place products suit the Indian market with its bright colours which appeals to Indian consumers, a price positioning that is suitable for a mass market and a wide supply chain, informs Suresh.
In India, the stores will feature clothes and accessories for children such as apparel for daily wear to special wear occasions, different kinds of shoes like ballet flats, ankle boots, among others, hair clips, etc. The products are catered to a wide customer base ranging from ages zero (infants) to 14 years. The average price point is Rs 800 across all categories with the entry-level price point at Rs 400 for a T-shirt.. The most expensive products in the category is pegged at Rs 3,000. There is high fashion too for dressy occasion in the range of Rs 2,000 to over Rs 3,000.
The children's clothing market, estimated at Rs 50,000 crore and growing at 12-15 percent annually, is largely unorganized in India. Organized sector accounts for a mere Rs 2000 crore. The penetration of modern retail is at an abysmal six percent, says Suresh, adding that the company would like to be a leading player in this category in the market. It expects kids wear to contribute around Rs 725 crore to its revenues in the next four years.
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Updated Date: Aug 19, 2015 17:14:46 IST