British departmental store chain Debenhams is all set to grow its retail presence in India, as it recently unveiled a new store in Mumbai.
After opening the first Indian store in Gurgaon in 2007, the retailer has launched its second shop at Phoenix Market City Mall in Kurla, reported indiaretailing.com.
The UK-based firm had a tough journey in establishing itself in the Indian retail market; it had to close two of its shops, one at Oberoi Mall in Mumbai and other in New Delhi.
Planet Retail COO Vikas Purohit told the website that after the first store, two more stores were launched that eventually got shut.
"It was then handled by a different management. It’s been two years now that a new management has been appointed to handle UK-based company Debenhams," Purohit said.
"The market for premium brands required time to develop. So, it took us two years to come up with this new store in Mumbai.
"At present, the market has evolved and the consumers are ready to shell out from their pockets if they find merchandise worthy of its value.
"Expecting good revenues and success in retail within six months of store operation does not happen. Retail is a vision for 12 years.
"Even though this mall will take time to have huge footfalls, in future with mono-rail coming up in Mumbai and almost every international brand opening their first store in Phoenix Market City, this mall within the next eight months will become most sought after."
With Gurgaon Debenhams is reportedly growing at 45% almost every month, Purohit hinted about the store expansion in other Indian cities.
A new Debenhams outlet is expected in an upcoming mall in the Indian city of Bangalore in the near future.
However, Purohit said the firm will not be reckless in opening stores as there is no point in opening shops and later closing them.
The Debenhams store, which spans 28,000ft², stocks menswear, womenswear, kidswear, innerwear, beachwear, accessories and home products.
The company has 153 stores across the UK and Ireland, in addition to a website.