Sizing Up India

Brooks Brothers is often identified with the suits that American Presidents wear. Claudio Del Vecchio, CEO of the company that owns the brand, says its India foray is working out so well that it is aiming at doubling the number of stores in the next three years.

- Pavan Lall

VENTURE AS THE COUNTRY’S oldest men’s clothing company, founded in 1881 in New York, Brooks Brothers has been at the forefront of corporate fashion in the U.S. During a recent visit to Mumbai, Claudio Del Vecchio, the CEO of Retail Brand Alliance, the holding company that owns Brooks Brothers, talked exclusively to Fortune India about his company’s expansion plans in India, sales performance, and innovation. Edited excerpts:

YOU KICKED OFF IN INDIA IN 2013 THROUGH A PARTNERSHIP WITH RELIANCE BRANDS. HOW HAS THAT WORKED OUT?

It’s been great. I would estimate our growth has been at 35% CAGR and we feel it’s sustainable for the next two years. We sell around 6,000 suits and jackets a year in India and around 150,000 worldwide.

DO YOU PLAN TO EXPAND OR WILL YOU STAY WITH THE 10 STORES YOU HAVE?

We are on target with growth plans. There are two malls coming up in Mumbai’s BKC area. We will open a store in one of them by next year. There’s another we will open in Kolkata because that market is big on tailored clothing. In all, we will open 10 more stores by 2020, for both brands—Brooks Brothers and Red Fleece. [Red Fleece is a dressed-down range of men’s wear.]

WILL YOU OPEN A FACTORY IN INDIA?

We don’t have to own one, but it will be important to engage a partner who understands how we manufacture, and makes things the same way.