Mumuso (South Korea) Plans Over 300 Outlets in India by Mid-2022
11 Mar 2019 - Mumuso, South Korean lifestyle brand, is planning to add more than 300 outlets in India by mid-2022 with an aim to have a business turnover of Rs 1,000 crore. The company eyes opening new stores in cities like Delhi, Chennai, Bengaluru, Hyderabad, Kolkata, Pune, Goa, Jaipur, Indore and Surat.
As part of its expansion plans, the lifestyle brand will have a blend of both the company-owned and franchise stores. Mumuso will be investing between Rs 80 lakh to Rs 1.2 crore to set the company-owned and franchise stores.
Apart from this, the company is looking to go online in order to tap into the rapidly growing e-commerce business in India.
Raunak Agarwal, Managing Director of Mumuso India, said, "Our expansion strategy is to set up all over India over 300 outlets by mid-2022 with a target of Rs 1,000 crore business."
"India being a fast-emerging market for the retail industry, we are expecting an escalated growth in a short span of time," he added.
Mumuso had forayed into the Indian market in September 2018. It offers a variety of products ranging from health and beauty products, fashion home accessories to apparel and digital products.
Currently, Mumuso is present in around 30 countries.