German premium apparel brand s.Oliver is planning to ramp up its presence in India.
Europe's leading textile producer is eyeing 55 stores in India by 2016 at an investment of Rs. 140 crore. The company has also lined up an aggressive expansion strategy for tier II towns, for which it has reduced the entry-level prices by over 40%.
The company, which had entered into a partnership with Orient Craft brands for its India foray in 2007 through a joint venture, has joined hands with incumbent Design Pod.
"We are eyeing the top slot in the premium apparel category by 2015," said Rajive Ranjan, managing director, Design Pod.
"Along with 55 retail outlets, we are planning to open 150 shop-in-shops across India."
The company is also betting big on the rural markets.
"Our expansion will be largely in tier-II cities of North India like Jallandhar, Bhatinda, Amritsar, Ludhiana and Patiala," said Ranjan.
"We are also looking for land in Ahemadabad, Patna, Surat and Lucknow."
Hiring more is also on the company's agenda.
"Hiring would be a necessity as we plan to double our growth rate in India," said Ranjan.
"We estimate to grow by 30% year-on- year through the revamp strategy against the current 15-20%."
s.Oliver operates 6580 stores in 30 countries.