Benetton India is looking forward to strengthen its presence in the Indian market with the opening of new stores. The Italian fashion brand is expected to launch 30 to 40 new stores this year. It will also introduce its online store in the second half of the year.
Sundeep Chugh, CEO and General Manager, Benetton India, told a leading media organisation, “As the government is focused on getting India on the growth path and the upcoming vaccines, this year we will try to get back to 2019 business performance. In the festival season, business recovered by almost 80 to 85 percent compared to the same period in the previous year.”
“In a heterogeneous market like India, consumer buying behavior runs through all channels and we will continue to focus on expanding our presence across all channels. The e-commerce channel is growing with a high double-digit CAGR due to the low penetration. So we will continue to use this opportunity in the right way,” Sundeep added.
Benetton India ventured into the Indian market in 1991. The brand has a network of around 350 physical stores throughout the country. It further aspires to grow online and offline, and capture more of the offline Indian market in 2021.