Fashion retailer Globus plans to come up with standalone stores under its largest private label brand - F21. The youth-oriented apparel brand, according to Vinay Nadkarni, CEO of Globus, will have 4-5 independent stores by next year. The stores will be of 1000-1500 sq ft in size.
Globus has experienced a difficult year in retail and plans to stay away from small format stores. For Globus stores, the average size, according to Nadkarni is 6,500 sq ft. Globus plans to open new stores at places including Jammu, Bareilly and Bangalore where it doesn’t have presence.
At present, Globus has 36 stores of which only two are large format stores measuring 33,000 sq ft.
Along with expanding footprints, Globus with its private label F21 plans to enter the footwear market.