LuLu Group International’s retail arm Tablez has signed an agreement with Chinese fast-fashion and leisure department store brand YOYOSO to bring its stores to India.
YOYOSO, which offers fashionable and trendy daily life products, plans to open new stores across multiple locations in the country over the next five years.
Among them, 30 stores are planned to be launched in key cities in the initial phase.
More than 5,000 items are currently available in the YOYOSO product line, with new ones added every month. The store chain has more than 1,000 stores across the globe.
Tablez managing director Adeeb Ahamed said: “We are excited to join hands with YOYOSO to bring the world-famous fast-fashion leisure department store brand to India.
“YOYOSO products are simple, natural, high-quality and have great value. We are sure that it will strike a chord with the discerning Indian consumers.”
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In June, LuLu Group International announced plans to increase its yearly exports for its retail stores from China, which currently stands at $220m to $300m.
The group is also planning to establish hypermarkets in Yiwu and other major cities in China with a $200m investment.
YOYOSO Brand founder and company president Ma Huan said: “Indian market is one of the most important part of global market. It’s a great opportunity for both YOYOSO and Tablez.
“Through the mutual cooperation, we are confident that YOYOSO will bring plenty of surprises and happiness to new-generation India.”
At present, Tablez operates more than 55 outlets globally with plans to expand to 175 outlets by 2020.