When Global Retailers Knocked At India's Fashion Doors (2015 in Retrospect)

Nils Chrestin, Interim CEO at Jabong and Group CFO of Global Fashion Group, feels that many international brands today are seeking an online presence to explore the diverse Indian market.

"In the last two years, Jabong has facilitated a lot of deals and, as a result, has been able to successfully build an International portfolio," Chrestin told IANS.

Officials of TOPSHOP and TOPMAN had been eyeing India as a feasible market for quite some time before partnering with Jabong. They feel that the country's market demonstrates great opportunity for fashion brands and the Indian customer is very fashion-savvy.

As of now, they are happy with the response from the customers.

"TOPSHOP and TOPMAN are very new to India and after an impactful launch on Jabong in September earlier this year have continued to experience high levels of traffic as well as meeting sales targets.

"Both brands are growing at a rate of 25 percent month on month and contribute substantially to Jabong's international business portfolio. There's a huge appetite for fashion in India which is why so many brands continue to enter the market," the brands' spokesperson told IANS.

Also, six leading South Korean cosmetic companies made their debut in India this year with an array of cosmetic and wellness products. The companies signed a joint venture agreement with an Indian firm for marketing their products first and will eventually make them in India under the 'Make in India' campaign.

The companies are PLK International, Coson Company Limited, Outin Futures Corporation, BCL Cosmetics Company Limited, Kell Cosmetics Company Limited, and Esthetic House Company.