Hong Kong-based accessories and apparel retailer Giordano is planning to double its presence in the Indian market.
By the end of the next fiscal year, the retailer plans to reach 100 points-of-sale (POS) in the country, including 10 to 15 exclusive brand outlets (EBOs) and the remainder as shops-in-shops, the Economic Times Retail (ETRetail) has reported, citing Giordano International overseas market development head Mark Alan Loynd.
The retailer will focus on metro, tier 1, tier II and tier III cities in India.
Loynd was quoted by ETRetail as saying: “We will be opening our EBOs at malls. In terms of markets, we will be penetrating the same markets where we are present so that we get more visibility in the same city.”
Giordano currently has 50 POS, including 13 EBOs and 37 shops-in-shops across 23 cities in 13 Indian states.
Its dedicated stores are located at multi-brand outlets such as Shoppers Stop and Central.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Giordano also offers products through major e-commerce marketplaces such as Flipkart, Amazon, Myntra and Nykaa.
The retailer plans to launch its own direct-to-consumer channel in the first quarter of the next fiscal year.
Giordano, which operates a network of 1,800 stores across 30 countries, plans to double its revenue in India to Rs1.5bn ($17.5m) by 2026.
The retailer first entered India in 2008 but left the market in 2012 after its strategy did not go as planned. It re-entered the Indian retail space in 2019.
Loynd stated: “One of the tenets of our brand is being simple. We give the freedom to local markets to interpret the brand the way they like. Our vision is to be the biggest brand in apparel retailing. India is a key market for us. We’re looking to expand our presence here.”