Launched by Bangalore-based firm Tech Midas Retail, Globe is a relatively new player in the Indian kids wear segment. Barely two years into the business, and its success has prompted a projection of Rs 12 crores for fiscal 2011-12. Having achieved Rs
1.8 crores in its first fiscal and Rs 6 crores in the last fiscal, Globe stands confident of its future course. Co-founder, Rohit Mohanty says “In India we can easily do Rs 200 crores business. We are trying to touch Rs 12 crores the coming financial year. Children’s wear has huge opportunities in India. However, to sustain the brand is a big challenge. We have been successful so far. Going forward, I don’t see any difficulties, if we are on the right track, success and opportunities are huge for us.”
A firm
believer that brands like Globe can achieve successful selling channels through tie ups with large format stores, Mohanty says, “The idea was to have this as a large format store brand. In India large formats are going to cater to 70 per cent of organized retail apart from brands’ own stores. Our brand comes with perfect service attached.” Armed with a strong back-end in terms of operations, Globe is in large formats like Reliance, Central, Brand Factory, Megamart and Total, where it usually gets between 100 to 150 sq. ft. and the brand focuses on getting a shop-in-shop if possible. Plans are afoot to launch its products in Lifestyle and Spar soon. The other co-founder, Balasubramaniam adds, “We are looking at expanding our brand through exclusive outlets but are more concerned about large formats. Once that vertical is substantially covered, we will look at exclusive outlets. That will be in 2014.” It is obvious that MBOs are not a part of its channel strategy, at least not in the immediate future. However, if all go as per plan, then the MBO route may just be a tertiary channel to supplement larger volumes pushing through.”
Globe’s retail strategy works as large format stores attract the more affluent consumer, ideal for its medium priced products. Starting off at Rs 349, Globe products are priced up to Rs 1,299. Mohanty explained the product line: “We make T-shirts, shirts and bottoms. T-shirts and shirts are in about eight styles at any given time. In bottoms we have shorts and Jamaican trousers. All Globe products are washed. The styling is all in the stitching and cuts. We will go into denims in autumn/winter 2011.” For children, Globe has tops, woven wear and knits. In woven and knit wear there are about 20 styles each at any given time. The brand’s key strengths are plains and yarn-dyed stripes.
Whilst Globe may not have an extensive range of denim products to reflect the current denim rage, it is expanding its limited portfolio to meet customer expectations and by autumn 2011, it should have an extensive range. In winter 2011, it also plans on launching an outsourced home furnishing line for children comprising a bed and bath line, door screens, bed sheets, towels, robes etc. Globe has two separate lines in terms of age segments. The first line caters to the six month to 24-month-old infant. The other line is for children up to 12 years of age.
