Globus launches its 1st store in Ahmedabad

Ahmedabad, May 19 (UNI) Globus, the speciality chain by the Rajan Raheja Group, today launched its first store in the city with a view to target the age group between 17-25 years of boys and girls.

''Fashion For A Changing World'' the philosophy behind the brand, will capture the youth and their mindset through alliance, innovative media presence and through events and activities at store level all of which will be focused on them,'' says Mr Vinay Nadkarni (CEO of Globus Stores), here.

Talking to mediapersons at store located on Gandhinagar-Sharkhej highway on western outskirts of the city, Mr Nadkarni said, ''Rising as a mega fashion apparel chain, Globus is a clear star amongst the young and the young at heart. Since Gujarat is one of the most attractive and important markets in India today, Globus's marketing and expansion plans for Gujarat are aggressive as well.'' ''With the opening of its first store in Ahmedabad today, Globus looks at establishing itself as the finest fashion destination for the youth in the city,'' he said.

Bringing trendy and fashionable merchandise to today's fashion conscious youth at affordable prices is what the brand stand far, Mr Nadkarni said.

Later talking to UNI, Mr Nadkarni said, organised retailing in India is approximately Rs 35,000 crores, which is roughly about 3.5 per cent of total retail in the country. Keeping this in mind, Globus has put Gujarat next on its agenda of brand footprint.

He said, in the present scenario the retail market in India has very vast scope and likely to grow at the annual rate of 8-9 per cent in next 3-4 years.

He further stated that in open and global economy if the entry of large international and national brands players are allowed in retail market the scenario will soon be changing.

When asked, Mr Nadkarni said that the other branded stores like Pantaloon, Westsides or others in the city are family stores while we are dealing with speciality merchandise.

He also disclosed the future plan of the chain by saying that the next store would be open-up in Rajkot city of Saurashtra region, where the deal is halfway through for acquiring the place, followed by Vadodara and Surat cities. All these stores will start their operations in next 2 years time. The Globus is also eyeing to expand its presence in smaller cities like Jamnagar and Bhavnagar in near future.

From this Ahmedabad store we are expecting to make business worth Rs 8-10 crore in the first year, Mr Nadkarni added.

UNI MP PM NV1743