Yishion, a Chinese retail major, announced its entry into the Indian market. It plans to have at least 125 points of sales, comprising both exclusive stores and multi-brand outlets, across the country by 2012.
The company which specialises in apparels and accessories is worth USD 12 billion. It has formed a 50:50 joint venture with Delhi-based marketing and distribution firm Upmarket Group. Its first exclusive store will be launched in Delhi by September, 2010.
“We have formalised the JV and our first exclusive store will come up in Delhi by September. Our target is to have 25 exclusive outlets, besides being present in at least another 100 multi-brand stores points of sale by 2012,” said Yishion Group Vice President Zhou Juntao. Yishion has already began selling its products through select outlets of Rituwear's.
Zhou said Yishion's ranges will be available at a price range of Rs 800-3,300 and the company is aiming to tap the mass market. The Yishion outlets would have an average size of 2,500 sq ft.
Zhou also revealed that the company is expecting at least Rs 10 crore in three years.