Giovani expands into North India, in talks over franchising
The formalwear fashion brand Giovani is now in the process of expanding into North India as it experiences a growth rate of 22 percent each year and has announced that it will commence franchising talks.
Giovani is an Indian brand and specialises in Italian-style tailored suits. The label currently has 15 exclusive brand outlets (EBOs) and 30 multi brand outlets (MBOs) as well as being present in over 100 large format stores such as Shoppers Stop. The brand is now looking to expand into North India as it is experiencing healthy growth and is finding that mall spaces prove more profitable than online retail.
Aditya Puri, Giovani’s Brand Manager explained their new retail strategy: “We are currently expanding in North India where there is a strong market for suits and jackets. We are looking at nationwide expansion and are open to giving out franchises to interested dealers. The major areas which we are looking into are New Delhi, Haryana, Jammu and Kashmir, Punjab, Uttaranchal, Uttar Pradesh, Andhra Pradesh, Assam, Meghalaya, West Bengal, Gujarat, Rajasthan, and Maharashtra.” If franchising talks go well, the brand could go for even further expansion.
Puri said that malls will be the focus of the coming retail expansion, stating: “Malls are destinations which generate their own walk-ins and which are accessible for our target audience to reach conveniently, and hence they are the mainstay of our location strategy.” Although Puri remarked that online business has only been booming for sale items and that pull price stock is not shifting there, he said: “We believe that it is a digital age and if people want their business to be successful, they need to build an impressive online presence.”
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