GAS applies to FIPB for JV with Reliance Brands

Italy’s leading premium apparel and denim brand GAS, which has a master franchisee arrangement with Reliance Brands, is looking at doubling its points of sales in 18 months. Presently it operates through 17 mono brand stores, around 50 shop-in-shops and four e-commerce companies. So, the doubling would include both mono shops and shop-in-shops.

The brand is interested in reaching out to Tier II and Tier III cities. In order to reach out, the company is working out a strategy which would help them attract customers in the smaller towns and cities. Enrico Acciaci, global CEO, GAS, feels that ‘India is an inspiration and an important influence for global customers’.

The brand recently approached Foreign Investment Promotion Board (FIPB) for a joint venture arrangement with Reliance Brands. So, it’s been a fantastic relationship between the two. What is interesting is that GAS sources about 20 per cent of its global merchandise from India. They already work with different sites and vendors here. In fact, in its expansion plan in India, GAS has tied up with four e-commerce sites and is exploring more in order to be effective.

GAS is a USD 100 million turnover company which has 55 per cent of its business interests in retail and about 45 per cent in wholesale. E-commerce is about 7-8 per cent of our business. Brand awareness has grown over time and today there are 150 stores across the world.