With an exclusive distribution and master franchise agreement with Genesis Luxury, Womo will open its first flagship store in the financial capital by the first half of 2020.
The personal care industry in India is set to touch 20 billion dollars (about Rs 1.4 lakh crore) by 2025 from the current 6.5 billion (about Rs 45,500 crore) on the back of ever increasing disposable incomes of middle class and growing aspirations. Industry body Assocham says men’s grooming segment is among the fastest growing categories.
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The Womo store will sell product lines as well as have cutting and shaving services of Bullfrog, a barbershop acquired by Percassi five years ago.
THE ENTRY OF WOMO INTO THE INDIAN MARKET IS PART OF A GLOBAL EXPANSION STRATEGY AND WILL CONSOLIDATE THE BRAND’S PRESENCE IN THE COUNTRY BY OPENING NEW FLAGSHIP STORES, said the company.
“The agreement signed with Reliance Brands for the launch of Womo in India is a source of great satisfaction for us,” said Stefano Percassi, founder of Womo. “This partnership will allow us to make the most of the multi-channel opportunities in the Indian market, which are well suited to our offer. I am sure this will give a decisive boost to the internationalization of the brand,” he said.
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Sanjay Kapoor, founder of Genesis Luxury, said: “Indian men have become image conscious and now do not shy away from paying attention to personal wellness and appearance.”
Ever since launching of its first store in Mumbai’s upscale Juhu area in April 2010, Reliance Brands has been on an expansion mode, opening a total of 420 stores and 350 shop-in-shops.
Its current portfolio of brand partnerships includes nearly 50 brands including Armani Exchange, Brooks Brothers, Burberry, Canali, Coach and Diesel. In May, Reliance Brands made its first international entry by acquiring British toy retailer Hamleys.