Landmark Group inks licensing deal for Spanish brand

BANGALORE: The early wave of Spanish fashion is on its way to India. Landmark Group’s lifestyle apparel business, LMG Brands, has signed a licensing deal with Springfield, a leading young menswear brand, owned by the Madrid-based textile giant Cortefiel Group.

Fazle Naqvi, president, LMG Brands India, told ET that the company has signed up for Springfield launch in the domestic market. LMG Brands already operates other mid-priced fashion brands like Bossini and Kappa, which were launched here earlier this year.

“Springfield is a big brand for young urban man seeking fashion at competitive price in Europe,” said Mr Naqvi. LMG Brands is targeting a topline of Rs 800/1,000 crore in the next 4-5 years, with casual wear Bossini and active sportswear Kappa expected to show up with Rs 200 crore each.

The company is currently creating a national footprint for Bossini and Kappa. Springfield accounts for 33% of the public-listed Cortefiel Group’s revenues, amongst the most influential names on the Spanish textile scene and the third-largest European company in its genre behind H&M and Inditex.

With over 450 stores worldwide, Cortefiel Group, which also owns the lingerie and homewear brand Women’s Secret, is in the midst of expanding Springfield’s international presence mainly through the franchise route.

It must be mentioned that Springfield is entering India at a time when Spanish fashion retailer, Zara, is exploring opportunities here. The Dubai-based Landmark Group, set up LMG Brands India last year to tap the opportunities for international fashion business. It roped in Mr Naqvi, to spearhead the venture.