Tablez, the retail arm of LuLu Group International, has signed a strategic cooperation agreement with Chinese lifestyle brand YOYOSO to set up stores in India. Adeeb Ahamed, managing director, Tablez inked the agreement with Ma Huan, YOYOSO brand founder and company president, in a ceremony held in Yiwu, China on Monday.
Headquarted in Yiwu, YOYOSO offers affordable, fashionable and trendy daily life products that have great functionality, quality, design and value. There are more than 5,000 items in the YOYOSO product line, with new ones added every month. With more than a decade of experience in retail operations the fashionable leisure department store chain has more than 1,000 stores worldwide.
Tablez plans to open stores of YOYOSO across multiple locations in India over the next five years, with 30 stores to be launched in key cities in the first phase.
“We are excited to join hands with YOYOSO to bring the world-famous fast-fashion leisure department store brand to India. YOYOSO products are simple, natural, high-quality and have great value. We are sure that it will strike a chord with the discerning Indian consumers,” says Ahamed.
“Indian market is one of the most important part of global markets. It’s a great opportunity for both YOYOSO and Tablez. Through the mutual cooperation, we are confident that YOYOSO will bring plenty of surprises and happiness to new generation India,” adds Huan.
The parent company of Tablez, LuLu Group International had in June announced that it will increase its yearly exports for its retail stores from China which stands currently at $220 million to $300 million. LuLu Group International is also looking at setting up Hypermarkets in Yiwu and other major cities in China at an investment of $200 million.
Words by Katie Streten Experiential Strategy Director, VMLY&R COMMERCE Throughout the last year,June 13, 2021 | By Shruthi Nair
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