The Hindu Business Line : Hidesign to boost overseas presence

The company recently entered into an agreement to pick up 35 per cent stake in its retail business in Russia — Hidesign LLC — for $200,000 on a partnership basis. Till now, Hidesign LLC was only a franchise for the Russian market and managed by its distributor. The infusion of capital would enable Hidesign to further accelerate its retail footprint across key markets in Russia, including St. Petersburg, from the 5 stores it has now in Moscow.

To enhance its brand presence overseas, Hidesign will open an exclusive brand store at the Hong Kong airport and another in Kuala Lumpur this year. The brand's market presence has grown in South Africa as well, and the company is in talks with five leading malls to set up its exclusive shops.

Mr Kunal R. Sachdev, CEO, Hidesign, said, "Hidesign has a strong presence in the international markets and has carved a niche for itself in recent years. Despite strong competition from other international leather brands, we have managed to create a loyal customer base across markets. Hence, we felt the need to further increase our brand salience in the international arena." He added, "We intend to increase the number of stores in Russia from 5 to 8 by the year-end, starting with St. Petersburg in February."

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