08 December 2021, Mumbai:
American fashion retailer Guess plans to strengthen its retail presence across India with the addition of 50 new stores. The brand added a new store in Phoenix Palladium, Mumbai.
Now, the plan is to open 10 stores over the next few months and expand the base to metros and slowly penetrate Tier II markets, touching top-grossing malls for the ease of consumers.
Then, the brand will gradually look into approaching micro-markets and launching accessory stores in smaller cities that will carry key categories like handbags, watches, etc.
Currently, Guess stores are company-owned and company-operated in India and plans are to take the franchisee route to fuel its growth in the Indian market. As of now, the entire collection is imported from Guess’ authorised vendors.
Once its business in India expands, manufacturing and sourcing will happen internally as well. The fashion brand sees huge potential for growth in India and plans to open new stores across major metros in India to revive its sales which were badly hit during the Covid pandemic. Guess is eyeing a revenue of Rs 300 crores by 2026.
The American fashion retail company will set up celebrity and influencer collaborations to engage more effectively with a younger and broader audience.
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