subject: French Connection India - Making Waves [print this page] French Connection India - Making Waves
In April 2007, FCUK (French Connection UK) made their first foray into the Indian market. Since that, there has been no looking back for the company. Fueled by the demographics, the healthy economy and the growing wealth of the upwardly mobile, the premium retail market is growing at an unbelievable pace in India. India has been on the track of accelerated growth since the last few years. According to several forecasts, this pace of growth will be sustained for many more years to come. Retail chains like French Connection India and Calvin Klein India want to take advantage of this potential for growth in a country that has a predominantly young population. French Connection India started its business in India with a 3,000 sq ft. shop in the country's business capital, Mumbai. This was followed by retail stores in Bangalore, the IT hub and a bustling city with a vibrant population of upwardly mobile youngsters. Since April 2007, when the brand was first introduced in India, French Connection has opened 22 branches across 10 cities in India. But, this is nowhere near their full potential. In fact, according to their Chief Operating officer, French Connection India has the potential to operate more than 30-40 stores in the next 5 years. The reasons for this phenomenal growth are many. As a stable economy, India is a giant that is just waking up. The middle class here is just beginning to come to their own, what with reasonably high disposable incomes backed by humongous growth in the economy. So, there is amazing spending power with the middle class here. A recent study by the McKinsey group indicates that the consumer market in India could top $400 billion in the next couple of years. This puts India among the top five countries globally. Trends too are catching on in a big way in India. Since the arrival of MTV and the Internet, Indians have begun to open up to the fashion and clothes abroad in a huge way. Another advantage is the kind of retail sector that exists in India. Up until now, India has been shopping largely from family run retail stores. Branded chains account only for 5-6% of the total sales. However, with the new generation of young people discovering the joys of shopping from malls, branded products are moving fast. In short, India is just discovering the luxury of world-famous branded products and the demand for such products is going through the roof. French Connection India is licensed to BMI, which is responsible for ensuring that the brand grows in India through the same global strategies adopted abroad, including seasonal product launches, great prices and fantastic service from personnel in the store. By pampering customers, the company hopes to rope in those people who are slowly opening their purse strings to branded stores from across the world.
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