French apparel brand Lacoste plans to open around 50 standalone stores in India over the next five years, Business Standard has reported, based on an interview with Lacoste’s CEO for the Asia-Pacific region, Marcus Meyer. The brand currently has 42 stores and seven digital marketplaces in India and plans to expand its presence from 17 to 28-29 cities nationwide. It also intends to increase its presence in product categories where this is still relatively small, like footwear, leather goods, kids wear, eyewear and accessories.
India is Lacoste’s top market in the Asia-Pacific region in terms of growth rate. The company expects strong growth as the Indian economy continues to grow, combined with a rise in the buying power of the Indian consumer.
Meyer, previously Lacoste’s CEO for Central and Northern Europe, took over the equivalent role in the Asia-Pacific region in June.
