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Business EconomyPosted at: Nov 17 2018 10:03PM


Korean lifestyle brand Mumuso to open 300 stores in India by 2022

Kolkata, Nov 17(UNI) Korean lifestyle brand Mumuso has announced that it plans to open 300 stores across India by 2022.
The lifestyle brand, which is present in 30 countries, entered the Indian market last September with a flagship store in Kolkata's Park Street.
"Mumuso is eyeing the Indian market aggressively with new stores in different parts of the country," Raunak Agarwal, Managing Director of Mumuso India told reporters in a press conference, here yesterday.
"India has seen a sharp rise in the demand for lifestyle products in the recent years. Mumuso has product categories from health and beauty, fashion home accessories to apparel accessories, digital products and more. The products offered by the brand are not only beautiful, functional, high-quality and affordable but also provides relaxing and pleasant shopping experience to the customer,"Mr Agarwal told reporters.
Mr Agarwal said each Mumuso store will offer 1200 unique items across eight categories and there will be an investment of Rs 80 lakh to Rs1.2 crore in opening the stores.
After Kolkata, the next stores would come up in Hyderabad, Siliguri, Bangalore, Delhi, Mumbai, Surat, Durgapur and Chennai, he said and out of the 300 stores planned, 10 would be launched with the current calendar year. The company would take the franchisee route to achieve its target of 300 stores, but the tier 1 and tier 2 cities will have at least one flagship Mumuso store, he added.
The company officials said the brand was expected to grow at the rate of 12-13 per cent in eastern India in the next four years.
While Mumuso was sourcing accessories, stationery, small electronics and lifestyle items, mostly from South Asian nations such as Malaysia, Singapore, China, Indonesia and Korea, cosmetics and beauty items were being sourced from France and Italy, the officials informed.
All the items were being routed to India through the Shanghai port, as China's shipment policy allowed items sourced from all corners of the world to any destination.
Currently, Mumuso has only one warehouse of 50,000 sq ft on the Bombay Road at Dulhagarh in West Bengal. However, company would have more warehouses with future expansions.
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