DLF inks pact with US accessories brand Claire

New Delhi: DLF Brands and American fashion accessories brand Claire have entered into a franchise agreement to open at least 30 stores in the next three years. The retail arm of DLF Group has a slew of international brands under its umbrella including Boggi Milano, DKNY, Alcott, Sunglass Hut, ELC, Mothercare. “The first-ever Claire store in Delhi is a 100 per cent franchised store and is part of our overall strategy of bringing new range of product lines to our customers. The fashion accessories market in India is largely dominated by unbranded players, therefore we see a huge market potential for branded players in this segment,” Mr Dipak Agarwal, Chief Executive, Operations and Strategy, DLF Brands, said. He said the market for accessories is estimated at Rs 1,000 crore and is growing at about 20 per cent. “We have seen a growth of about 23-28 per cent in the last two years. DLF Brands has always been very selective of the brands that we introduce to the Indian customers. We are hopeful of a good response for the Claire's store and plan to open over 30 such stores across India in the next three years.” Claire's products are priced between Rs 300 and Rs 3,000.