Affordable fashion brand Kiabi is to expand its footprint into India, according to The Economic Times.
A source said the company’s global team was scouting for retail space in metro cities. Kiabi eyed entering the market before 2020, however, the plan was postponed due to the pandemic.
“They have now appointed a consultant to facilitate India entry,” the source told ET.
The brand is owned by The Association Familiale Mulliez (AFM), which also owns Decathlon Group and supermarket chain Auchan. Founded in 1978, the French fashion label operates more than 100 stores across 15 countries.
According to market research firm Imarc Group, India’s fashion market was valued at US$172.3 billion last year. The firm estimates the market will reach US$387.3 billion by 2028, exhibiting a growth rate (CAGR) of 14.59 per cent between 2023 and 2028.
Last month, Foot Locker was reported to be in talks with Indian multi-brand footwear company Metro Brands to bring the US footwear brand into India as part of its strategy to further strengthen its presence in Asia.