South Korean brand Beccos has entered the Indian market with the opening of its first store in Kamla Nagar, New Delhi. The company has earmarked an investment of Rs 100 crore (approx $13.7 million) on its expansion in India this year.
The Delhi store is spread over 1,500 square-foot and houses merchandise across categories like apparel, accessories, cosmetics and lifestyle products. The company will be opening two more stores in Delhi in the coming week.
The Hong Kong-based Beccos plans to open around 50 stores across India by mid-2019 and is eyeing revenue of Rs 250 crore from the Indian market in the next fiscal.
“We see tremendous potential in the Indian market and will be expanding our retail presence to 50 stores by mid-2019, across key locations at an investment of over Rs 100 crore,” Beccos Global CEO Dabin Wang told PTI.
“We would have a mix of both franchise and company-operated stores. We expect revenue of Rs 200-250 crore by the financial year 2019-20,” he added.
Beccos sells household items, mobile accessories, cosmetics, fashion accessories, luggage, home decor, stationary and baby products.
The company is banking heavily on fashion and cosmetics to drive growth in India and expects them to be the fastest-moving items at its stores.