We aim to open 200 stores over next two years: Dabin Wang
In an exclusive conversation with Dabin Wang, Global CEO , Beccos sheds light on brand’s India strategy.BY Shipra Srivastava | October 30, 2018 | comments ( 0 ) |
Beccos, a Korean designer brand has just foryed Indian market by opening its first company owned store. The first Beccos exclusive store was inaugurated at Kamla Nagar in New Delhi. Wang interacted with Retailer media during launch.
Tell us about the brand Beccos. What kind of presence the brand enjoys in the international market? Also tell us about your first Indian store?
We are present in five countries including Hong Kong, China amongst with over 100 stores. We are 100% FDI in India. We have opened our first store in Kamla Nagar, New Delhi. Our maiden store is spread across over 1500 Sq Ft. As of now, we have introduced eight categories from total twelve. The merchandise line-up comprises daily need household items, mobile accessories, cosmetics, fashion accessories, luggage, home décor, stationary and baby products made with the finest materials.
Which are your remaining categories? Also shed light on your best performing category?
We have yet to introduce Cosmetic, beauty tools, kitchen and mothercare & babycare categories in India. Mother & babycare is our best performing category.
What kind of price points you introduced in Indian market?
Our wide range of exquisite products is designed by South Korea’s most influential product designers demonstrate the brand’s commitment to innovative design. Considering that we are very price affordable. Our range starts from Rs 10 and goes up to Rs. 1000.
How many stores you would be targeting for Indian market?
We are looking to open 50 stores in India by mid 2019. These stores will be mix of company owned and franchised stores. We are hopeful for the investment of over Rs.100 crs and planned revenues of Rs 200 -250 crs by FY ending 2019-20.
What are the plans for web store? Would you be looking to open India exclusive web store?
We have our own team to build online store. Hopefully, by next year our online store would be operational to Indian consumers.
What kind of locations you would be targetting for upcoming stores?
We would be looking for locations which are close to Universities and busy streets of the city.
What are you major growth plans to Indian market?
We are keen to open 200 stores over next two years.