American casual wear company, Steve and Barry plans to launch its outlet in India by 2008. Insiders have leaked that they are looking at the Indian and Chinese market and the blueprint are ready for global expansion of the retailer.
Steve and Barry initially plans to invest Rs 400 crore [$100 Million] in its Indian foray. Steve and Barry already sources manufactured goods from Indian partner – Unisource group. Their are rumors that Unisource will be roped in as a partner in the Indian retail venture.
Typically Steve and Baryy’s stores are 50,000 to 100,000 sft in size and offers casual wear – t-shirt, jeans, shirts, skirts, sweaters, cargos, jackets, footwear and other fashion accessories. It is highly unlikely that the stores will be of the same size in India though one or two mega stores maybe planned for cities such as New Delhi/NCR and Mumbai.