DLF Brands and US-based Claire’s Store Inc have joined hands to bring to India the latter’s fashion
jewelry and accessories. DLF Brands, a subsidiary of real estate major DLF retails brands like Mothercare, Alcott and DKNY. It plans to open 75 stores of Claire's over the next five years starting with New Delhi by December this year.
Claire’s is a $3 billion Chicago-based value retailer, owned by global private equity firm Apollo Management LP. It has made its mark in North America and Europe and is now planning to mark its presence in the Asian market, starting with India. The specialty retailer has over 3,000 stores globally out of which 50 per cent are franchised. Its consumer base is young girls in the age group of 3-27 years. Its offering for this age group include: earrings, necklaces, bracelets , handbags, hair and fashion accessories. For older girls, it retails under its brand Icing. This brand, however, will not be a part of Claire’s 10-year deal with DLF.
Timmy Sarna , MD, DLF Brands says the organized accessories market is growing exponentially in India but there are not enough players to cater to this demand. He feels, Claire's with its depth of merchandise, trendy styles and affordable prices are very relevant for Indian consumers. They plan to open the first 75 stores in the first year of operations and spread across the top 6-7 cities. The aim is to take this brand to Tier II cities as well considering its value proposition.
In India, Claire will have to compete with UK-based Accessorize in the value retail segment. It is also the owner of international brand Monsoon franchised by Planet Retail. Claire, Accessorize and brands like Aldo and Charles & Keith are major players in organized fashion accessories market. Claire’s merchandise also includes a perfume line, bedroom line and electronics. The brand retails in malls, in large stores of about 1,000 sq. ft.