Malaysian kidswear brand ‘Poney,’ which entered India last month, is planning to invest Rs 30 crore to expand its operations in this country opening 25 outlets over the next five years, according to a report.
Poney’s Indian collaborator Ajanta International is targeting a turnover of Rs 100-150 crore in five years from the brand.
Rajat Kapoor, head of Ajanta International said the brand was looking at opening three more stores in the National Capital Region by the end of this financial year and two more in Mumbai by the end of 2016.
He said the plan includes opening at least five stores each year. The brand is also aiming for 100 shop-in-shop counters and will be adding 10 counters to its name every year.
Apart from cities like Delhi, Mumbai, Bengaluru and Kolkata, Poney plans to set up outlets in tier-II cities like Lucknow, Chandigarh, Ahmedabad, Ludhiana and Pune. Kapoor said the brand is in also talks with Indian kid-centric portals to sell its products.
Muzaffar Syed, company head of international business development, said India offers a huge potential, with rapid urbanisation and growing disposable incomes.
He said there is a gap in the market, as India does not have many organised kidswear brands offering quality and comfortable products, particularly in tier-2 and tier-3 towns. Poney wants to take advantage of the absence of organized kidswear brand in India which is one of its focus international markets. The company is also looking at manufacturing in, and begin sourcing from, India, he added.
