British fashion brand Lipsy today said it has entered into an exclusive franchise agreement with Brand Marketing India (BMI) to market and distribute Lipsy branded products in India.
"This is a key milestone in our international expansion and underscores the international appeal of our brand. We are delighted to be working with the team at BMI and look forward to introducing Lipsy to their customers," Emma Dobson, Head of International Lipsy said in a statement.
BMI intends to open over 50 Lipsy stores over the next five years, the statement added.
Lipsy, which was acquired by Next Plc in 2008, is focused on young women and currently sells in other international markets like Middle East and CIS regions through franchise stores.
Commenting on the agreement, BMI Managing Director Vijay Murjani said: "The combination of glamorous fashion, affordability and a great retail experience has ensured (that) the brand has been an overwhelming success with both celebrities and young trendsetters across the UK. We are confident that the young Indian consumers will embrace the brand in the same way."
BMI had been associated with the launch and development of other fashion brands such as Calvin Klein and French Connection in India.