Sloggi, an international bodywear brand, has entered the Indian market and plans to grow its retail presence with the help of franchise partner Solar Group. According to a statement, Sloggi, a brand of Triumph International, a Swiss underwear company, aims for a 10% market share in the next two years.
By 2022, it intends to open ten outlets across India. It will concentrate on tier-2 cities as well as significant metros, according to its strategy.
Triumph India and Sri Lanka Commercial Director Santhosh Sivaramakrishnan stated the company plans to explore the possibilities of this market segment in India by expanding its operations. “We have already witnessed exponential growth here with our parent brand Triumph,” he added.
Sivaramakrishnan further said, “Going forward we are taking a page from the Triumph’s retail book and are looking at 1,000 plus consumer experience (POS) points to start within the first two years. We have leveraged our strength in MBO (Multi-Brand Outlet) partners, after which we plan on expanding into LFS (Large Format Stores) stores as well. We also plan to open ten exclusive retail stores by the end of next year”.
Sloggi will open outlets in Navi Mumbai, and Pune with the support of its franchisee partner Solar Group between October and December this year.