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 and other brands in men’s and denims. Even though the company’s target customers are in the age-group 16-25 years, but 80 per cent of its turnout at stores is aged between 18-35 years.

Currently, growing at a CAGR of 20 per cent, Globus expects to earn Rs 250 crores by March 2012 by rapidly increasing the number of stores from 34 to 37 by March 2012. The chain expanded well in 2011, by adding seven stores between April and October. It plans to add 8-10 stores every year in capital cities and major towns in India with an investment of Rs 5 crore per store.