Producer and retailer of apparels, accessories, bags and wallets Chumbak, has applied for single brand licence to manage and operate a combination of company owned outlets as well as an ecommerce website. The company which started off by supplying its products to multi brand stores currently manages 18 Chumbak branded stores in high streets and malls.
A leading daily reported that Chumbak has filed the application with the Department of Industrial Policy and Promotion (DIPP) in December, quoting a person familiar with the development.Producer and retailer of apparels, accessories, bags and wallets Chumbak, has applied for single brand licence to manage and operate a combination of company owned outlets as well as an ecommerce website. The company which started off by supplying its products to multi brand stores currently manages 18 Chumbak branded stores in high streets and malls.#
The company funded by SeedFund and Matrix Partners, and is now among the latest foreign-funded home grown single brand companies to apply for the single brand licence, which permits retailing through physical and online stores also. (AR)
ALCHEMPro News Desk – India
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