Pepe Jeans files application to DIPP to open fully-owned stores

Pepe Jeans India has recently applied to the Department of Industrial Policy & Promotion (DIPP) to set up fully-owned retail stores in the country. The company aims to open large format retail outlets in metro cities of the country.
Pepe Jeans India

Spain-headquartered denim and casual wear brand Pepe Jeans India has recently applied to the Department of Industrial Policy & Promotion (DIPP) to set up fully-owned retail stores in the country. The company aims to open large format retail outlets in metro cities of the country. Currently it is operating through a JV in the wholesale segment.
Eyeing at country’s liberal business policies that allow foreign single-brand retailer to operate through their own stores and franchisee options, Pepe Jeans India aims to tap India’s transforming market using online and offline formats of retail.
The retail giant has put an application on DIPP’s website on Jan 6 to strengthen its omni-channel presence in the country.
Last year, the company was all focused towards doubling its sales to nearly 1,500 cr in the coming 3 years. It also entered into new fashion categories such as kids wear and footwear along with increasing the count of its franchisee stores.
Currently Pepe Jeans has 200 franchise stores in the country and plans to take the count to around 450 stores tapping metros, tier II and III cities. According to a report by Technopak, India’s denim market is expected to grow at 15% CAGR to touch 27,200 cr by end of 2018. 

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