Shoppers Stop, leading retail stores operator, today announced a strategic partnership with Bennett, Coleman & Co. (BCCL), one of India's leading multimedia groups to extend Femina, one of BCCL's flagship brands, into the consumer products space.
As part of this unique 'co-create and co-own' partnership, BCCL will license 'Femina FLAUNT' to Shoppers Stop, to design, develop, and retail the brand, exclusively across Shoppers Stop stores, in the core fashion categories - apparel, footwear, accessories and bags. FLAUNT is the retail identity developed by BCCL for Femina.
Commenting on the partnership, Vineet Jain, managing director, BCCL, said, ''This is in line with our brand extension strategy to partner with the best-in-class players to unlock immense hidden value in many of our marquee brands. As a group, we’ve always been ahead on the innovation curve, and this partnership is another such example.''
Govind Shrikhande, customer care associate & managing director, Shoppers Stop added, ''In line with our brand philosophy of 'Start Something New', we have embarked on a new partnership with the BCCL group to launch 'Femina FLAUNT' in our stores. The premium positioning of this brand fits seamlessly into our diverse portfolio of premium brands. We are positive that 'Femina FLAUNT' will be a huge success with our discerning customers.''
Shares of the company gained Rs 4.3, or 1.04%, to settle at Rs 416.50. The total volume of shares traded was 1,679 at the BSE (Wednesday).