Global clothing brand Pepe Jeans is planning to expand their business by stepping up in the country by opening 50 more stores within this year. Moreover, they are also targeting the innerwear segment to cover the vast area and can provide world class product at affordable prices. In the innerwear segment, the brand is planning to start with men’s products and after getting positive response they will subsequently move into other categories.
Kavindra Mishra, MD and CEO of Pepe Jeans India commented that “Our target is to open 50 stores in India, which will take our store count to 270 by the end of this year, we are also looking at launching a separate company for innerwear through a joint venture this year. We are manufacturing nearly a million pieces every year for the global line of Pepe Jeans taking forward the prime minister’s Make in India initiative. Online is a great method for discovery. It is not meant for discounting. People have abused discounting model. It is the brand’s responsibility that the consumer does not feel cheated whether he shops in a departmental store or online. I believe in maintaining price parity,”
While talking about GST, Mishra said the company is about “95 per cent GST-ready”, and has been working with compliant vendors only since the beginning of 2017, they can easily cope up with this situation and maintain stability in the market.