Guess eyes Rs 300 crore revenue by 2026
Fashion and lifestyle brand Guess is planning to strengthen its retail presence across India with the addition of 50 new stores and eyeing revenue of Rs 300 crore ($40.5 million) by 2026.
The company sees huge potential for growth in the Indian market and will start its expansion by opening 10 stores over the next five months.
“The plan is to expand the base to the metropolitan cities and slowly penetrate tier-2 markets, touching the top-grossing malls for the ease of consumers. Then, we will gradually look into approaching the micro-markets and launching accessory stores in smaller cities that will carry our key categories like handbags, watches etc," Manoj Nair, CEO of Gaurik Lifestyle, the licensee for Guess International in India, told Economic Times.
“We are currently importing our entire collection from Guess’ Authorised vendors. Once our business in India expands, the manufacturing and sourcing will happen internally as well,” Nair added.
Currently, Guess stores are company-owned and company-operated in India and plans to take the franchisee route to fuel its growth in the Indian market going forward.
Copyright © 2022 FashionNetwork.com All rights reserved.