“Giovani has a 50 Crore market in India growing at 22% per annum”: Aditya Puri
In an exclusive conversation with Aditya Puri, Brand Manager of Giovani highlights the growth strategy of the brand.BY Shipra Srivastava | July 12, 2017 | comments ( 0 ) |
Kindly shed light on journey of the brand to Indian market. What is your market assessment?
Launched in the year 2000, the brand was acquired by Future Lifestyle Fashions in 2014. As we know that Indian fashion and Lifestyle market has come a long way in the past few years with the development of online as well as different marketing strategies with a lot of international brands coming in. Fashion weeks are gaining popularity as the lifestyle and attitude of people is changing towards grooming and looking good. Now people aspire to look best in front of their peers. People are one of the most important factors propelling the industry’s growth. Moreover, Indians are becoming receptive towards international trends and are becoming very fashion conscious.
Being a part of Future Lifestyle, shed light on brand’s estimated market share?
Giovani has a 50 crore market in India growing at 22% per annum.
Pls throw light on current distribution including the franchised stores?
The mass premium lifestyle brand is available in over 100 touch points across the country with 15 standalone stores located in about 20 cities. The brand is also being franchised for exclusive stores providing the best of workmanship and expression of your taste. On an average, there are about 2800-3000 customers who visit our store per month. There are total 4 franchise stores of Giovani currently.
Being a men’s brand what are the various initiatives you have taken to look after your customer better? Also shed light on your consumer’s profile?
Giovani is a leading brand in the men’s formal lifestyle category. Giovani has always kept men who are in the age group of 25 to 40 as their target audience. However, the heart is the age group 25-35. The tastes and profiles of customers are changing very rapidly over the years like earlier they liked detailed and intricate patterns but soon jumped onto minimalism and subtleness. We are creating a strong online presence as well as a loyalty program so that we can keep our customers engaged and involved.
Kindly shed light on your USP that sets you apart from other brands?
Giovani is not just a brand telling about wearing formals but curating a look out of it. Products available at the store are: Shirts, trousers, tie, blazers, suits, jackets etc. We are a standalone brand and cater to ready to wear formals, thus having no brands as sub brands. The products are manufactured and ‘Made in India’ with fine quality and workmanship.
Shed light on retailed categories and also the bestsellers? How do you plan to extend the existing range?
The brand is considered one of the best formal wear brands in the country available at all leading stores with the idea of Flamboyance delivered through sharpness of Italian cuts. Products category is limited to formals and festive wear and includes a varied range from suits, jackets, trousers, shirts, ties, and pocket squares for men and corporate suits, trousers, shirts, jackets, tunic, skirts, tops for women. Currently we specialise in formal wear and we plan to expand before we increase our product range.
What is the price range for products at your stores? Pls also shed light on your average bill size?
· Suits – 8999 – 16999
· Jackets – 4999 – 12999
· Trousers 1999 – 2499
· Shirts 1899 – 2999
6999 – 14999 price points are most popular. Our average bill size is Rs.6400. Shirts are the most sold item at our stores.
Kindly shed light on your store profile including size, location, layout, etc?
We are open to malls and high street both. The minimum criteria is a 1000 sqft store. We prefer to put up stores where footfall is not an issue and the location which is accessible for our target audience to reach conveniently. We are already in shop in shop format. We are present in Lifestyle; Shoppers stop and even have a strong presence online.
Kindly also shed light on your ongoing loyalty scheme?
We have a loyalty program under the name “One League” for our customers. We generally have a lot of offers running in the stores at every interval and our customers are informed about it through SMS and newsletters.
At last, kindly shed light on brand’s growth plans? Which Indian regions are on your radar? Are you looking for franchise stores too? If yes, what kinds of franchisees are you looking for, and where in India? Also shed light on online presence of the brand.
We are looking for nationwide expansion and are open to giving out franchise to dealers who are interested.The major areas which we are looking into are New Delhi, Haryana, Jammu and Kashmir, Punjab, Uttaranchal, Uttar Pradesh, Andhra Pradesh, Assam, Meghalaya, West Bengal, Gujarat, Rajasthan and Maharashtra.
Yes, we are definitely looking for franchise stores as the market is expanding so are we willing to. There is no particular sector in which we are looking for franchise but in every sector that is possible. The major areas we are looking for franchise stores are- Mumbai, Delhi, Bangalore, Chandigarh and in nearly all of India.
The brand believes that it is a digital age and if you want your business to be successful you need to have a good and impressive online presence. We have a strong presence online and e-commerce contributes to a good percent of our sales. We are present on Amazon which gives good visibility to the brand.