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 profits and sees no reason in appointing a new and expensive brand ambassador.

Vinay Nadkarni, Managing Director and CEO, Globus Stores, feels when they were in their growth phase and needed the initial push, it was necessary to have a brand ambassador. But now they have taken a decision not have one. The stores have also started making operating profits with a turnover of Rs 200 crores last year and now would like to expand the number of stores from the current 26 to 30 stores this year. They will be funding the operations through money from the promoters as valuations are not always right in private equity funding. They would spend Rs 4.5 crores on each store as they expand to new towns.  

It seems Globus may have taken a leaf from Pantaloon and Westside, as both these department store brands have discontinued using Bollywood stars and cricket heroes for endorsements. While Pantaloon has discontinued with Bipasha Basu and Zayed Khan, Westside has done away with cricketer Yuvraj Singh in its campaigns. However, Future Group`s value format store Big Bazaar continues using endorsements from cricketer M S Dhoni and actor Asin.

Globus is planning expansion with outlets in Raipur, Vijaywada and Pune, targeting the youth markets there. Continuing to target the 18-25 years group, Globus has nearly 75 per cent of its merchandise coming from its private labels as it finds this strategy more revenue generating.