Korean brand Mumuso plans over 300 outlets in India by mid-2022. These will open in metros and Tier II cities. The new stores are expected to open Delhi, Chennai, Bangalore, Hyderabad, Kolkata, Pune, Goa, Jaipur, Indore and Surat. These would be a blend of both company-owned and franchise stores. The brand will invest between Rs 80 lakhs to Rs 1.2 crores in setting the stores.
The South Korean lifestyle brand entered the Indian market in September 2018 with stores in Kolkata and Mumbai. Mumuso offers health and beauty products, fashion home accessories, apparel and digital products. The company is also planning to source special apparels and small leather products. Besides, the company plans to go online to tap into the rapid growing e-commerce business in the country. Mumuso, with a presence in around 30 countries, strives to provide products with high quality and rational prices. Mumuso constantly improves the product design and the shopping experience, and strives to form a new retail format model that is customer-oriented, data-driven and design-oriented. Mumuso keeps progressing toward the digital new retail mode.
As per FDI norms, it is mandatory to source 30 per cent goods from India in single brand retail trade.