Apparel and accessories brand Guess (Gaurik Lifestyle) has plans to open 50 Guess stores over the next five years and is looking at achieving the revenue mark of Rs. 300 crore by 2026.
Gaurik Lifestyle is the distributor of Guess in India.
As per a report of Financial Express, the leading business daily, Manoj Nair, CEO, Gaurik Lifestyle said the company is bullish about building its offline presence, with a target of 10 stores by the end of FY22.
Guess is following large-format exclusive brand outlets (EBOs) in India.
“We are continuously observing improvement in consumer demand after the second wave, which paves the way for our EBOs in the Indian market. The bricks-and-mortar model has always been capital-intensive; it represents the face of our brand. We plan to delve into two formats of stores in India: first, a denim store, which will have all categories that Guess offers, and the second will be an accessory-exclusive store,” he said.
As of now, the expansion will be focussed on the top-grossing malls, while gradually approaching micro-markets and introducing accessory stores, including key categories like handbags and watches, in smaller cities.
In India, the brand is available on e-commerce platforms like Tata CLiQ, Nykaa, Myntra and Ajio. Notably, 60 per cent of its business sales are coming from e-commerce channels.
The brand is coming with a new range of athleisure wear in upcoming Fall/Winter 2021 collection, which is crafted to suit the work-from-home, multitasking environment.
