Danish Sportswear Brand hummel Is Aggressively Looking at India for Its Next Leg of Expansion
hummel, 95-year-old Denmark based International sportswear company today announced that they are looking at India market seriously for its next leg of expansion. The Company has recently tied up with premium fashion e-commerce companies such as Jabong and Myntra for retailing its products in the India subcontinent.
The company has been running a substantial part of their production business in India so far.
In their quest to penetrate the Indian market, hummel is on the lookout for strategic partners to get a better grip on India, it’s people, the market and the business & economic ecosphere. They are in talks with various prospective partners to be able to explore more online e-commerce options as well as enter the offline retail segment towards the end of the year. Highly satisfied with their beta testing via Jabong & Myntra; hummel states that their plans for India are nothing short of long-term.
In a recent visit to India, Christian Stadil, the owner of the parent company Thornico group & hummel International said, he has seen the country growing before his eyes. His company is keen to know the Indian Market and the requirement of its audience. This country needs to be more than just a production hub and we want to be a part of its success story. Unlike most brands, which first look at China and thereafter consider moving into Indian markets, hummel went the other way. We have made our foray in the e-commerce space already in India. Now we will also make our products available in the Chinese market as well in a month or two.
Currently selling on Jabong & Myntra in India, hummel is already on its way to create new records. With a very high retention rate, hummel ranks in the top league of all available sports brand selling on Jabong & Myntra. In addition to its existing collection, considering India’s diversity, hummel is looking to come up with a more vibrant collection to cater to the colorful palette of the Indian audience, CEO Allan Vad Nielsen said, “The Indian market is on hummel’s priority list. We’ve been slow, yet steady and took our time to enter the Indian market, it is because we are here to stay.” He added, “Very soon you will find collections that are India centric. We will create branded content & products for the Indian market.”
Source: Business Wire India