New Delhi: US-based lingerie brand Parfait which has just entered India, plans to invest around $4 million in the first year of its operation in the country, said top executive of the company. The investment will be made to set up around 150 shop-in-shops and 4 exclusive outlets in the country this year.
“We are planning to invest $3-$4 million dollars in the first year. Every 6 months we evaluate our business for further investment,” said Ken Zhang, CEO, and co-founder of the brand. “We have entered India through 100% FDI. Following the government norms, we will source 30% from India and but the style, sample, structure, technique, and design will come from the homeland. Our 30% sourcing from India will include cotton,” he further said.
In India, Parfait will be partnering with major Indian retailers and aggressively focuses on shop-in-shop formats. In the near future, Parfait will be available on their own website apart from e-commerce players like Myntra and Amazon.
“We will also explore the possibility of opening Parfait store in major cities in the near future. Parfait will be launching its first exclusive store in Vasant Kunj, Delhi, followed by an exclusive store in Mumbai. The exclusive stores will be launched in the mid-week of April. This will be Parfait’s first exclusive store globally,” said Akhil Srivastava, managing director of Parfait India.
Parfait sell products across the world through a channel of distributors and retailers and is available in 700 stores worldwide. The business is mostly driven through B2B channel globally. The company is entering in B2C for the first time with their launch in India.
Headquartered in Los Angles, United States the company serves women across 20 plus countries through its 700 stores and online stores worldwide.