Denim and casual wear firm, Pepe Jeans will step up its presence in the country by opening 50 more stores this year and is also looking to enter the innerwear segment, a senior company official said.
In the innerwear segment, the company is planning to begin with men's products and then will subsequently move into other categories.
Kavindra Mishra, MD and CEO, Pepe Jeans India, told PTI, "Our target is to open 50 stores in India, which will take our store count to 270 by the end of this year."
He added, "We are also looking at launching a separate company for innerwear through a joint venture this year."
Pepe Jeans has been in the process of stepping up its presence here by launching different product lines in the past few years.
Mishra said, "Last year, it entered the kids wear segment and hopes to manufacture up to a million pieces for category this year."
The company has also been manufacturing and exporting for its global supply chain.
He said, "We are manufacturing nearly a million pieces every year for the global line of Pepe Jeans taking forward the prime minister's Make in India initiative."
He further added, "Pepe Jeans is also piecing together its omni-channel strategy, which will roll out by March this financial year."
On online discounting, Mishra said, "Online is a great method for discovery. It is not meant for discounting. People have abused discounting model."
He added, "It is the brand's responsibility that the consumer does not feel cheated whether he shops in a departmental store or online. I believe in maintaining price parity."
When asked about GST preparedness, Mishra said, "The company is about "95 per cent GST-ready and has been working with compliant vendors only since the beginning of 2017."