Hummel goes offline, to open 10 stores this fiscal year
Danish sports lifestyle brand Hummel International has gone offline in the Indian market with the opening of five franchise stores in Bengaluru, Pune, Chennai, Surat, and Amritsar.
The company plans to further strengthen its offline presence by opening 10 more stores during the current financial year and will be targeting millennials for growth.
Hummel will invest around Rs 38.5 crore ($5.5 million) to boost in its presence in the Indian market and expects to generate sales revenue of Rs 20 crore this fiscal.
“The company is investing $5.5 million in the first year towards warehousing, logistics, back-end operations, and marketing. It is expecting to garner Rs 20 crore in sales this fiscal. The search is on for store locations in malls in Mumbai and Delhi and the company is also identifying locations in Hyderabad, Lucknow and Ludhiana to set up stores,” Soumava Naskar, managing director, Hummel India told BusinessLine.
Hummel considers India to be a high priority market and has also launched its own website apart from strengthening the online network by partnering with other e-commerce firms in the country.
“Three months ago, we listed our merchandise on Amazon and Flipkart via our partner ND Commerce, which manages our online stores and handles pricing control too. Which means, if customers receive discounts on our end-of-season products on Amazon or Flipkart, they will receive the same discounts in our physical stores as well,” Naskar added.
Hummel is owned by the Danish Thornico Group and is currently present in over 35 countries.
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