Mumbai based Brandzstorm which has recently included Kenneth Cole’s by replacing Reliance Retail has signed a licensed agreement with fashion and lifestyle brand Pierre Cardin to open five exclusive outlets to expand its offline and online presence in the country.
“The ladies handbag market size in India is being pegged at Rs 5,100 crore and is expected to grow to Rs 7,900 crore by 2023. Indian consumers are looking for international brands in this segment, which is why we are investing heavily in this category,” said Ujjval Saraf, managing director of Brandzstorm in a media interaction.
Along with expanding the footprint in Delhi, Mumbai and Bengaluru Pierre Cardin will also expand its footprint in multibrand outlets such as Lifestyle and Shoppers Stop. Brandzstorm will be responsible for online distribution of Pierre Cardin bags too, he said.