Orient Craft, German firm in fashion retailing JV

Orient Craft, one of the largest garment manufacturers in the country, has entered into a joint-venture (JV) with Germany based s.Oliver for its foray into front-end fashion retailing.

The JV company which has been named Orient Craft Brands will launch its first two exclusive s.Oliver brand stores in National Capital Region Delhi and Mumbai this month.

In the first phase, the company would be investing Rs 10 crore to setup the two 3,000 square feet stores. In the next phase the company is planning to open 8-9 stores with an additional investment of Rs 22 crore. "By end of five years, we are looking to accumulate 1,00,000 square feet of retailing space across 77 points of sale, including 39 exclusive and 38 shop in shop formats," Sudhir Dhingra, CMD, Orient Craft said.

Andreas Brill, director (international retail & sales)  s.Oliver said, "At the end of five years, we expect to a turnover of Rs 225 crore and a market share of 3-4% in the developing apparel retail segment".