Kenneth Cole upbeat on India, eyes 20 stores by 3-4 years

While several foreign retailers haven't been eager to invest in India, despite the government opening up FDI in the country, renowned designer Kenneth Cole says he is open to entering into a joint venture with Reliance Brands. CNBC-TV18's Kritika Saxena caught up with him and began by asking him what made him bullish about India at a time when the country is facing a slowdown?

Below is the verbatim transcript of the interview on CNBC-TV18

Cole: I am so fascinated and enamored with everything Indian right now. Consumers are affected by the ups and turns of the market. But I have always found in the past when markets become difficult, people look for creative alternatives and we have often been that creative alternative.

It is the more well-penetrated traditional businesses that tend to suffer. I am not all that concerned. Right now, we are just trying to find our place.

Q: You have been here with Reliance Brands. You have partnered with Reliance Brands. It has been about a year roughly. You have around seven stores currently. How is the expansion plan for Kenneth Cole looking like across say FY14 and FY15?

Cole:We are talking about 20 stores over the next three to four years but it is not written in stone and may be it becomes more if there is a clear market for it or may be less.

There is an appetite for fashion today throughout this country and strategically we can be credible to the degree we can deliver on the expectation and the promise, to the degree we can define a dream and live up to it, the business will grow.

Q: You have been fairly confident about your expansion plans in India. You have a franchise exclusive partnership with Reliance Brands if I am correct. Would you explore the option of entering a joint venture with them as well considering the fact that foreign direct investment in India has opened up?

Cole: We will be open to it at any point in time that is felt appropriate. There isn't a plan right now. Our plan is to create a meaningful presence in the market, playing a credible alternative to the customer. Our goal is to create clothes that allow you to define yourself.

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