Tablez, the brand retailing company, has signed master franchise agreement with Grupo Cortefiel, one of Europe’s leading fashion retailers.
At a ceremony held at the Shangri-La Hotel in Bengaluru, India recently, Tablez signed the deal with Grupo Cortefiel to bring two of its brands, ‘Springfield’ – a youth-oriented casual fashion brand and ‘Women’secret’ – an innerwear, swimwear and sleepwear brand to India. The agreement outlines plans for some 60 stores in India over the next five years. The first store is slated to open in Bengaluru by April 2017.
Springfield will have a mix of large format flagship stores and exclusive brand outlets, while Women’secret would mainly concentrate on exclusive brand outlets. A few Women’secret stores will be alongside the large format flagship stores of Springfield.
Adeeb Ahamed, managing director, Tablez, said, “We are pleased to sign this master franchise agreement with Grupo Cortefiel. We see tremendous potential for brand retailing in India and we are delighted to have aligned with Grupo Cortefiel, which has an outstanding track record in fashion retail. With the introduction of Springfield and Women’secret, we aim to expand our footprint in the lifestyle and apparel brand segment. The young demographic of India and emergence of fast fashion segment offers opportunity for rapid growth for both the brands.”
Antonis Kyprianou, group franchise general manager, Grupo Cortefiel, said, “It has been our long intention to enter the market in India, as its one of the most important markets but at the same time challenging. For every international company that wants to be successful in any market outside of their home market, one of the most important parameters is finding the right local partner. With Tablez team we share the same vision and passion for this market and for this reason we decided to partner together on this challenge.”
Ahamed (left) with Kyprianou at the master franchise agreement between Tablez and Grupo Cortefiel in Bengaluru, India recently.
