Hardcastle Restaurants, the JV partner of McDonald’s India, is now venturing into the apparel business and as part of the plan the company has entered into a partnership deal with the Jalan family, the promoters of Mumbai-based Prakash Cotton Mills. The apparel business will be handled through the JV company, Global Trendz Retail (GTR), reports The Economic Times.
Further, the company will be bringing in two Disney brands — Disney Baby and Disney Jeans — into the country which will be sold through exclusive outlets — Bungee. GTR has opened its first Bungee store at Kalyan in Mumbai and plans to open 50 stores across 20 towns in fiscal year 2009-10. Besides Mumbai, the company also plans to look at Hyderabad, Nagpur, Bengaluru and Mysore, the report added.
“After having dealt with the Indian consumer so closely through McDonald’s for the past 10-12 years, we feel we have a good sense of their requirements,” quoted Amit Jatia, MD, Hardcastle Restaurants in the report.
“Apart from standalone stores, Disney Baby and Disney Jeans will also be available in multi-brand outlets (MBOs) including Shoppers Stop and Lifestyle. While stores in big towns would be owned by GTR, small town presence would be through the franchise route. We will be investing over Rs 500 million in store launches and market expansion over the next two years,” added Jatia.
While Disney Baby is targeted at 0-4 years, Disney Jeans will target the 4-14-year olds. The company has appointed former Levi’s head Arvind Verma as the CEO of GTR who will be responsible for the day-to-day running of the business.
— IndiaRetailing Bureau
