Russian fashion retailer Concept Group has expanded its presence in India by opening its second Acoola children’s apparel store in New Delhi.
Concept Group entered a joint venture (JV) with India’s Saamag Group last September.
The Russian company holds a 49% stake in the JV, while Saamag Group has a 51% interest.
A part of Sistema JSFC, Concept Group plans to open new stores across India and introduce Acoola branded clothing, footwear, and accessories for kids aged between two and 14 years.
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The first store was opened last year in Uttar Pradesh at the Logix City Center Mall, Noida.
Concept Group now plans to open ten more Acoola stores across the country this year.
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Concept Group has been in the retail business in Russia for more than a decade, and has been operating through its two brands Acoola and Concept Club.
The brands currently operate more than 200 retail outlets across the country.
Apart from India, the company has expanded its footprint in other countries, including Germany and Israel.
In India, the two partners plan to invest $10m in the first roll-out phase of Acoola stores.