Guess to open 50 stores, touch revenue mark of Rs 300 crore in five years, Retail News, ET Retail
Fashion and life-style brand name Guess plans to open up 50 merchants across India in the up coming and touch a profits mark of Rs 300 crore in the following 5 years. It will open up its first 10 stores this economic year.
The approach is to extend the foundation to the metropolitan towns and gradually penetrate into tier-2 marketplaces, touching the prime grossing malls for the ease of customers, explained Manoj Nair , CEO , Gaurik Way of life – Guess Worldwide, its licensee in India.
“Then, we will steadily look into approaching the micro markets and launching accessory stores in smaller towns that will carry our vital groups like purses, watches and so forth,” he included.
Guess merchants are firm owned and corporation operated in India at the moment. The enterprise even so, options to have a franchisee design as it expands.
The company will be launching an Athleisure collection in the suppliers this tumble/winter year.
“We are presently importing our full collection from Guess’ Authorised vendors. At the time our business in India expands, the manufacturing and sourcing will happen internally as nicely,” Nair said.
The company strategies to capitalise on the expanding retail marketplace in India. India is the world’s fifth-largest international destination in the retail area and rated 63 in Planet Bank’s report – Executing Business 2020. On-line consumers in India are anticipated to arrive at ~500Mn in 2030 from +150Mn in 2020, so more than the subsequent 10 years, the Indian retail marketplace is properly poised to see optimistic advancement on the back of economic improvement, higher connectedness, and coverage reforms, all of which will give a plethora of prospects for retail organizations to serve youthful, affluent, related, and self-confident Indian customers.
