International bodywear brand Sloggi has forayed into the Indian market and plans to expand its retail presence through franchise partner Solar Group.
Sloggi, a brand from the house of Swiss undergarment maker Triumph International, eyes to achieve 10 per cent market share in the next two years, a statement said.
It has plans to open 10 stores pan India by 2022. As per its strategy, it will focus on tier-2 cities along with key metros.
Commenting on the launch Triumph India and Sri Lanka Commercial Director Santhosh Sivaramakrishnan said by expanding its operations, the company aims to explore the potential of this market segment in India.
We have already witnessed exponential growth here with our parent brand Triumph, he added.
Sivaramakrishnan further said, Going forward we are taking a page from the Triumph's retail book and are looking at 1,000 plus consumer experience (POS) points to start within the first two years. We have leveraged our strength in MBO (Multi-Brand Outlet) partners after which we plan on expanding into LFS (Large Format Stores) stores as well. We also plan to open 10 exclusive retail stores by the end of next year.
Sloggi will open its stores in Navi Mumbai and Pune between October and December this year, with the support of its franchisee partner Solar Group.
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