Globus news and archive

Globus opens a store in Navi Mumbai.

Globus has opened its doors in Navi Mumbai, the store is spread over 6,400 square feet sports a contemporary look and offers an environment, similar to that of an international store. It has been designed keeping in mind the ongoing and the most popular trends in global retail industry. The design has adopted a more contemporary approach...

Business

Globus turns to ecom to boost sales

Globus has failed to keep up with Shoppers Stop, Pantaloons, Lifestyle and others which entered the fashion segment around the same time or much later. With losses at Rs 24 crores in 2015-16, the accumulated losses at the fashion chain have now gone up to Rs 241.19 crores. The retailer’s sales were up just 2.7 per cent and consequently the loss...

Retail

Globus Retail Stores reports huge losses

Huge losses were reported by Globus Retail Stores. For the Financial Year 2014-2015, the company made a loss of Rs 26.33 crore, with sales falling by over 11.2 per cent to Rs 2,017.1 crore. Three loss-making stores were also shut down and tried to reduce operation costs by setting up smaller stores. As a result total expenditure declined by 1...

Fashion

High street rentals a dampener for brands and retails

With rising high street rentals and delays in mall development in many cities, prominent apparel and fashion accessories brands and retailers are finding it difficult to sustain growth on high streets owing to low footfalls. The profit compared to the rents they have to pay is low. For instance, Globus’ store in Mumbai’s upmarket Bandra area,...

Apparel

Globus plans more stores for F21 brand

The Rajan Raheja Group promoted Globus Stores plans to launch independent stores under its largest private label ‘F21’ a unisex youth oriented apparel brand. Though the company had plans to open the stores last year, but due to slow economy and difficult market conditions, it decided against it and is now looking at opening independent stores...

Apparel

Globus on retail expansion drive

Globus set up in 1999 by the Rajan Raheja Group is planning aggressive retail growth to speed up its store expansion plans. For the initial 5-6 years since 2005, the company entirely focussed on offering youth fashion with the right product mix and its own labels in women’s wear, both ethnic, western and accessories. It has both private labels...

Fashion

Top garment retailers routing for Bangladesh

Bangladesh has gained access to Indian market under the duty free agreement and this has been a cause for worry for Indian apparel manufacturers, who produce similar merchandise. But Indian apparel manufacturers and retailers have decided to find a way out to deal with the situation. Now they have started exploring opportunities to either set up...

Apparel

Globus gives F21 new identity

India’s premier fashion and lifestyle destination Globus Stores is planning to open a specialty retail format for its private label F21. The Eye Candy Fashion also called as F21 offers casual and club wear collections. The group will set up F21 standalone outlets in malls and shop-in-shops inside other apparel retailers. It is an accessible...

Apparel

Globus now its own brand ambassador

Claiming to cater fashion for a changing world, it seems Globus has acquired its on entity and image to do away with Indian celebrity endorsements for its retail outlets. Having used youth Bollywood icons like Kareena Kapoor and Soha Ali Khan in the past, Globus is now confident enough to hold its own as its has registered significant operating...

Apparel

Globus foresees bleak quarter

Globus, the apparel chain promoted by the Raheja Group, is adding five stores to the existing 25 across the country at an estimated investment of about Rs 25 crores to Rs 30 crores. The buoyancy in the business was visible from August last year, when the stores recorded a 25 to 30 per cent increase in footfalls. The company reported revenues of...

Fashion

Proline to foray into innerwear, women’s wear and kids wear

Proline, the premium menswear brand is firming up its plans to launch an innerwear range in autumn/winter ’10. “We are looking at introducing it around October. It will include boxers, vests, briefs and the like. At the moment, we are working on the price structure,” says Rajesh Sampath, General Manager, Operations and Marketing, Proline India....

Fashion

Manyavar to open more exclusive brand stores, take count to 80

Manyavar the well known Indian men’s ethnic wear brand is betting big on the wedding market. The brand is launching a new Spring/Summer ’10 collection and opening more exclusive stores in various cities to reach their niche clientele across India. “The new Spring/Summer ’10 collection is an amalgamation of the true spirit of exploration with...