Beccos plans expansion in India with 50 new stores
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Chinese-owned ‘South Korean designer brand’ Beccos says it plans to launch 50 stores in India. Scheduled to be opened by the middle of next year, the stores will require an investment of ₹100 crore (US$13.67 million) and are expected to return a revenue of around ₹200-250 crore ($27.35–34.18 million) in the next financial year based on the potential of the market.
Like rival chain Mumuso, the store is positioned as Korean and using Korean design influence in its products, but is actually Chinese.
The Hong Kong-based firm will also be investigating the potential of online sales in the region next year.
Beccos global CEO Dabin Wang said: “We see tremendous potential in the Indian market… The company would have stores on company-owned-company-operated and franchise patterns. We would have a mix of both franchised and company-operated stores.”
Beccos has started the expansion by opening its first few stores in Kamala Nagar.
Questions & Answers
Q.What is the expected timeline for opening these new stores?
What is the expected timeline for opening these new stores?
Beccos plans for the 50 new stores to be open by the middle of next year. This expansion is part of their strategy to grow their presence in the Indian market.
Q.What is the anticipated revenue from these new stores?
What is the anticipated revenue from these new stores?
The company expects a revenue of around ₹200-250 crore ($27.35-34.18 million) in the next financial year from these new stores. This projection is based on the potential of the Indian market.
Q.What business model will Beccos use for its new stores?
What business model will Beccos use for its new stores?
Beccos will use a hybrid model, operating both company-owned-company-operated stores and franchise stores. This mixed approach allows for varied market penetration and management.
Q.Are there plans for Beccos to sell products online in India?
Are there plans for Beccos to sell products online in India?
Yes, the Hong Kong-based firm plans to investigate the potential for online sales in the region next year. This suggests an interest in expanding beyond physical retail.