industry

Guess to open 50 stores, touch revenue mark of Rs 300 crore in five years


Fashion and lifestyle brand Guess plans to open 50 stores across India in the next and touch a revenue mark of Rs 300 crore in the next five years. It will open its first ten stores this financial year.

The plan is to expand the base to the metropolitan cities and slowly penetrate into tier-2 markets, touching the top grossing malls for the ease of consumers, said Manoj Nair , CEO , Gaurik Lifestyle – Guess International, its licensee in India.

“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,” he added.

Guess stores are company owned and company operated in India at the moment. The company however, plans to have a franchisee model as it expands.

The company will be launching an Athleisure collection in the stores this fall/winter season.

“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 said.

The company plans to capitalise on the growing retail market in India. India is the world’s fifth-largest global destination in the retail space and ranked 63 in World Bank’s report – Doing Business 2020. Online shoppers in India are expected to reach ~500Mn in 2030 from +150Mn in 2020, so over the next decade, the Indian retail market is well poised to see positive growth on the back of economic development, greater connectedness, and policy reforms, all of which will offer a plethora of opportunities for retail companies to serve young, affluent, connected, and confident Indian consumers.



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