Korean lifestyle brand Mumuso enters Indian market
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East Asia’s affordable lifestyle brand Mumuso has announced its expansion plans in Kolkata while opening its first store. Mumuso is eyeing the Indian market aggressively with new stores in different parts of the country, a senior executive said.
With a strong presence in over 30 countries across the world, the Korean lifestyle brand Mumuso has entered into the Indian Market and plans to open around 300+ stores by 2022 with an average investment of Rs 80 lakh to Rs 1.2 crore which will be spent towards setting up these company-owned and franchise stores. The brand is planning to open outlets pan India with its market reach in cities likes Kolkata, Hyderabad, Siliguri, Bangalore, Delhi, Mumbai, Surat, Durgapur, Chennai and so on.
Mumuso India — the Indian entity of Mumuso —whose offerings include accessories, stationery, small electronics and lifestyle items, sources these mostly from South Asian nations such as Malaysia, Singapore, China, Indonesia and Korea.
“India, being a fast emerging market for retail industry, we are expecting an escalated growth in a short span of time.”
India has seen a sharp rise in the demand for lifestyle products in the recent years. Mumuso has product categories from Health and Beauty, Fashion Home Accessories to Apparel, Accessories, Digital Products and more. The products offered by the brand are not only beautiful, functional, high-quality and affordable but also provides relaxing and pleasant shopping experience to the customer.
Speaking on the occasion, Raunak Agarwal, Managing Director, Mumuso India said, “Our expansion strategy is to set up 300+ outlets all over India along with entering the e-commerce market as online shopping has seen a big boost in India in recent years. We are also looking to source from Indian companies specially apparels and small leather products. The company will look to have 300-odd stores by mid-2022. India, being a fast emerging market for retail industry, we are expecting an escalated growth in a short span of time. Indian market has a big potential, where we believe our creative range of products will enhance the rich experience of customers since it’s an international brand with high quality and valued pricing.”
He added, “There has been a high demand for the trendy and affordable products as far as lifestyle is concerned. People not only look forward to quality and style but also affordability. With Mumuso coming into the picture, people won’t have to travel to different stores for their needs, but just walk into our showroom and get their products. Mumuso brand always adheres to the principle of selling products with reliable quality and affordable price, strictly observes to the borderline of high quality, strives to improve the upper limit of taste and price ratio and provides well-designed products, continuously optimizes the supply chain service system to reduce the cost, creating relaxing and light-hearted shopping experiences for consumers.”
Questions & Answers
Q.What is the expected store count for Mumuso in India and when do they aim to achieve this target?
What is the expected store count for Mumuso in India and when do they aim to achieve this target?
Mumuso plans to open around 300+ stores across India. They aim to have these 300-odd stores operational by mid-2022, indicating an aggressive expansion strategy within a short timeframe.
Q.Where will Mumuso source its products from for the Indian market?
Where will Mumuso source its products from for the Indian market?
Mumuso India will mainly source its offerings, which include accessories and small electronics, from South Asian nations like Malaysia, Singapore, China, Indonesia and Korea. They also plan to source apparels and small leather products from Indian companies.
Q.What is the approximate investment required for setting up each Mumuso store in India?
What is the approximate investment required for setting up each Mumuso store in India?
The average investment for setting up each Mumuso store, encompassing both company-owned and franchise outlets, is estimated to be between Rs 80 lakh and Rs 1.2 crore.
Q.Which major Indian cities are included in Mumuso's initial expansion plans?
Which major Indian cities are included in Mumuso's initial expansion plans?
Mumuso plans to open outlets pan India, with market reach in cities including Kolkata, Hyderabad, Siliguri, Bangalore, Delhi, Mumbai, Surat, Durgapur, and Chennai, among others.
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