Guess (Gaurik Lifestyle) is planning a 50-store expansion
01 October 2021, Mumbai:
Guess (Gaurik Lifestyle), a clothing and accessories company aims to establish 50 outlets over the next five years, with a sales target of Rs. 300 crore by 2026. Guess is distributed in India by Gaurik Lifestyle.
According to a story in Financial Express, the major business daily, Manoj Nair, CEO of Gaurik Lifestyle, stated that the firm is optimistic about expanding its physical presence, with a goal of ten outlets by the end of FY22. In India, Guess is emulating large-format exclusive brand stores (EBOs).
“Following the second wave, we've seen a steady increase in customer demand, paving the road for our EBOs in the Indian market. The brick-and-mortar approach has always been capital-intensive; it is our brand's face. In India, we aim to open two types of stores: the first will be a denim store with all of Guess's categories, and the second will be an accessory-only store,” he added.
Initially, the growth will concentrate on the highest-grossing malls, with a gradual shift to micro-markets and the introduction of accessory stores in smaller cities, featuring important categories like handbags and watches.
The brand is accessible in India on e-commerce sites such as Tata CLiQ, Nykaa, Myntra, and Ajio. E-commerce channels account for 60% of the company's commercial sales. In the forthcoming Fall/Winter 2021 collection, the company will debut a new line of athleisure clothing designed for the work-from-home, multitasking scenario.
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