Mumbai: Ace Turtle, the Bengaluru-based tech-led retail operator, has struck a long-term licensing agreement with WHP Global to bring Dutch premium denim label G-Star to India, which will compete with premium brands including Diesel and Calvin Klein.
The deal gives Ace Turtle, the right to buy from G-Star’s international supply chain, manufacture locally, and sell across all channels. The Netherlands-based G-Star partnered Genesis Luxury to enter India a decade ago and came into Reliance’s fold after it acquired Genesis in 2017. However, the partnership ended last year. Ace Turtle said the new strategy includes both global and locally customised designs to cater to Indian preferences, with pricing aligned closely to European levels.
“Earlier the challenge was they didn’t manufacture or design in India and everything they would import only. In a market like India, even post-pandemic, personalization matters and you can’t rely on the global supply chain. We already have existing expertise in the segment,” said Nitin Chhabra, founder and CEO of Ace Turtle that has exclusive licensees in India and South Asia for global brands including Lee, Wrangler and Dockers. “Initially, 100% of the inventory will be imported, but local manufacturing is expected to account for 10-15% by next season. In about two years’ time, the majority of the production will be happening locally.”As the world’s most populous nation, India is an attractive market for apparel brands, especially with youngsters increasingly embracing western-style clothing. But the market is also getting crowded as most global rivals from Zara and H&M to Uniqlo and Gap have set up shop in the country.
Within denim, a host of international denim brands have made inroads into the country over the years with brands such as Levi Strauss and Pepe having been around for a long time in the country. Then there are new entrants including GAS, Diesel, Superdry and Armani Jeans in the premium price segment, and Burberry, Versace, Gucci and Roberto Cavalli in the high-end luxury space.
Chhabra, however, said it will not be competing with mass-priced brands which is a cluttered market, and will instead have premium positioning, a category that has limited global brands. G-Star will launch in India via shop-in-shop formats at department stores like Shoppers Stop in the current season, before opening standalone stores starting next season. Over a five-year period, it will open about 15 stores.
“India’s fashion market is undergoing rapid transformation and growth,” said Stanley Silverstein, Chief Commercial Officer of WHP Global, which also owns a host of brands including Toys R Us, Express and Lotto. “As part of our continued global expansion, we believe G-STAR will inspire and connect with fashion-conscious consumers, while setting new benchmarks for how premium brands can engage with local markets.”
