Korean lifestyle brand Mumuso, which ventured into India in September with its first store in Calcutta, is eyeing a business of Rs 1,000 crore and plans to open over 300 outlets by 2022.

Mumuso India’s offerings include accessories, stationery, small electronics and lifestyle items and the products are being sourced from Malaysia, Singapore, China, Indonesia and Korea.

“Our expansion strategy is to set up 300-plus outlets all over Indian along with entering the e-commerce market as online shopping has seen a big boost in India in recent years. We are also looking to source from Indian companies, specially apparels and small leather products,” said Raunak Agarwal, managing director of Mumuso India.

The new stores are expected to come up in Hyderabad, Siliguri, Bangalore, Delhi, Mumbai, Surat, Durgapur, and Chennai.

Agarwal said Mumuso will have both company-owned and franchisee stores. The company plans to spend on an average Rs 80 lakh to Rs 1.2 crore in setting up the stores. At least 25 per cent of the stores will be company-owned.

“By the end of one year of operations, we should have at least 50 stores with a revenue of around Rs 125 crore. Our stores are slightly bigger because of the large number of products that are on offer,” said Agarwal.

“India being a fast emerging market for the retail industry, we are expecting an escalated growth in a short span of time. There has been a high demand for the trend and affordable products as far as lifestyle is concerned. With Mumuso coming into the picture, people wont have to travel to different stores,” said Agarwal.

Mumuso is currently present in 30 countries and its products are manufactured in China, Korea, Japan, Thailand, Singapore.