Food
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.
