Hyderabad: US-based lifestyle brand Fossil’s India subsidiary has planned 30 retail stores by 2017. Speaking on the sidelines of launch of Fossil’s retail outlet here in at Inorbit mall, Hyderabad, the company’s general manager Sumit Ghosh said, “With this launch, we are having a total of eight stores in the country. We plan to add six stores next year and reach our target of 30 standalone retail outlets by 2017.
“We will be opening our second showroom in Hyderabad at Forum mall very soon,” he added. The company was one of the first brands to receive FDI nod last year and since then it has been increasingly focussing on establishing retail stores across the country’s major cities. While Mumbai has four outlets, Bengaluru has three and it plans to open other stores in Chennai, New Delhi, Chandigarh etc.
The company also has a manufacturing and assembling facility in Parwanoo in Himachal Pradesh and is considering expanding its capacity. “We are seeing strong growth in Asia-Pacific and have registered 55 per cent growth rate last year, indicating our bullishness towards these markets,” Mr Ghosh said.
