NETHERLANDS-based lingerie chain Hunkemöller announced the signature of a franchise agreement with Reliance Brands, a subsidiary of Reliance Industries, one of India’s largest conglomerates. The new partnership is expected to lead to the opening of 20 Hunkemöller stores in India within the coming five years, with the first scheduled for March 2016. Hunkemöller CEO Phillip Mountford told Indian media that growth in emerging economies such as India and China are a big part of the chain’s growth plan. He added that the chain added 80 stores to its network in 2014 and expected to open as many as 100 in 2015.
The Dutch chain’s highly effective mix of fashion content, product quality and value for money will make it a formidable competitor for other Western brands attempting to become established in India.