News: Triumph scouts for franchise partner in India
(BS 28/01/2007) Mumbai - Triumph International (India) Pvt, the Indian arm of Switzerland based Triumph International, an intimate apparel brand, is scouting for a franchise partner to open its flagship stores.
The company's manufactring facility at Chennai will also start commercial production by November this year.
"For flagship stores we will go through a franchise agreement. We are in talks with a few companies but we are yet to find a partner with the right mindset," Triumph General Manager and Country Head (India) Thorsten Allenstein said.
The company had earlier expressed keen interest in opening its own flagship stores but changed the plans due to the requirement of a joint venture (JV) partner for foreign direct investment.
"We are not willing to open flagship stores through a JV partner," Allenstein maintained.
Triumph, present in India since 1998 through a JV, Intimate Fashion, producing private labels and its own brands, is now coming up with its plant at Chennai.
"The facility at Chennai will produce 12 to 15 million pieces per year of our brands mainly for exports with a small portion for domestic sales which would eventually be scaled up," he said.
The new factory will employ close to 5,000 people, majorty of them women, he said, adding a high-end brand too would be launched at a later stage.
The company's manufactring facility at Chennai will also start commercial production by November this year.
"For flagship stores we will go through a franchise agreement. We are in talks with a few companies but we are yet to find a partner with the right mindset," Triumph General Manager and Country Head (India) Thorsten Allenstein said.
The company had earlier expressed keen interest in opening its own flagship stores but changed the plans due to the requirement of a joint venture (JV) partner for foreign direct investment.
"We are not willing to open flagship stores through a JV partner," Allenstein maintained.
Triumph, present in India since 1998 through a JV, Intimate Fashion, producing private labels and its own brands, is now coming up with its plant at Chennai.
"The facility at Chennai will produce 12 to 15 million pieces per year of our brands mainly for exports with a small portion for domestic sales which would eventually be scaled up," he said.
The new factory will employ close to 5,000 people, majorty of them women, he said, adding a high-end brand too would be launched at a later stage.
posted by InCar Group Press Room at 19:36
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