WITH US branding and licencing company Actual Brands Group (ABG) has finalized a franchisee agreement with Reliability Brands for its contemporary casual put brand Juicy Couture sale. Reliance Famous brands plans to open 20 standalone outlets of Juicy Couture, famous for his sweatpants and other fashion accessories, in the country initiating next year. Marilyn Monroe, Muhammad Ali and Elvis Presley are among the new famous brands ABG owns. Time period telephonic interview with ET, Jamie Salter, chief executive at ABG, told the firm may bring in couple of its other brands including Spyder eventually in partnership with Reliance. Edited excerpts:
Are you gonna be late in entering India , is it just about the right time?
We not too long ago spent quite a bit of the time in China touring the country with our partners using Reliance and we saw an waking market economy in India with the fashion couture brands resurgence in the world I think it is the exactly the right time.
The length of India as a potential market?
Many of do business all around the world, from Middle To the east to
, Turkey to China, u can tell you that India contains all the ingredient for a market that might explode. We feel that the market secure wide open and the middle class and additionally. For an affordable luxury brand similar to Juicy, the upside arrow is indicated straight up.
Where will you rank China among the emerging markets?
China is may No . 1 today when you view of the market with 100 million heart class and going to be 300 shades over the next five years and an incredibly relaxing most growth in the world.
India in addition to the Middle East are probably five long periods of time behind China. The world is growing simply fast now than 10 years and really is. I truly believe that India could be actually as big a market as Piedrecita in the next 10 year. I truly believe there certainly is massive potential in India but not only for Juicy Couture iPhone 5 case but for all of our brands.
You opt for a local partner during the time you enter emerging markets. Do you think right here is best strategy?
For us it is important to include a partner on the ground, who understands all country’s landscapes, politics and manner. Not everything is same around the world and we have to make sure that we have a partner in which understands what is going on in that particular region.
Will the entry of Juicy front the way for your other brands to enter China?
Yes. The partnership with Reliability is longterm… We feel these are the best partner we can have in the country which would like to do more deals with them. However as they say, let’s walk before web design application run. So let’s get this supplier going. Once this brand is a favorable outcome, then we will go to other brands.
Succulent has been closing its stores as part of US…
When ABG bought Succulent Couture last year, there were many excellent stores that were renovated and turned out to be making money. Prior to selling Juicy, that they had decided to keep some of the best stores on their own. When we purchased Juicy, we proceeded to shut the stores that are underperforming. Lady our business plan was that we wanted to find of the outlet business in the US. And we decided to go with mid-tier retailers within the united states. Also, we don’t want to be virtually any mall-based store, we want it to acquire more on the street.
Kaidaer 