I remember speaking with Pradeep Hirani, CMD, Karmik back in mid-2012 when he shared that he would not limit these stores to India but also explore the neighbouring countries. And it finally becomes a reality, as Hirani takes the multi-designer pret retail chain to Pakistan, the first such Indian retailer.
With the focus on reaching the fashionistas of Pakistan, Karmik has entered an international franchise and agreement with Arshadsons, a retail franchise company, from Pakistan. The deal was recently signed in Delhi. Additionally, as part of this master-franchise deal, the plan is to open six stores in cities such as Lahore (also the location for the first store ever in the country), Karachi and Islamabad over the next three years, followed by smaller towns. Estimated investment for this deal is around 3 million dollars over three years.
Sheikh Aftab Arshad, partner Arshadsons, said “We feel that Pakistan is a brand conscious market and high quality products at reasonable prices are in great demand. Indian Designers and garments are very popular in Pakistan; however the only source of their availability is Dubai. We spotted this void between the demand and supply and hence are bringing KARMIK to Pakistan. Our main aim is to use all the best marketing practices to ensure that the brand becomes a household name in Pakistan as we have been able to achieve the same for Quiz.” Arshadsons is into retail franchise business since 2010 and got a master franchise for Pakistan from Quiz UK and Moda in Pelle, being in leather trade and several other businesses since 1947.
Hirani added, “The plan now is to take Karmik to other neighbouring countries like Nepal and Bangladesh, and to include few Pakistani and Dhaka designers to our repertoire of Top Indian designers for Karmik.”
Karmik was launched at the Lakme Fashion Week early 2012. With 10 stores already present in country’s leading cities like Delhi, Mumbai, Bangalore, Ludhiana, Chandigarh, Chennai, Amritsar, Jaipur , and 12 more stores in immediate pipeline, Karmik is committed to achieve 60 Point of Sales by 2015.