Lifestyle brand Giovani today said it will invest Rs 200 crore by 2015 to expand its retail business, besides foraying into the teenagers segment this year, as part of plans to increase footprints in the branded fashion market.
The brand, promoted by apparel player Dhir Global, said it is targeting to have a total of 100 exclusive stores across the country within five years, from 11 currently.
"We will invest Rs 200 crore by 2015 and hope to increase our number of exclusive outlets to 100 by that time. The customers in the Tier II and smaller towns are awakening to modern fashion trends and we want to put added attention to those places," Dhir Global Chairman and Managing Director M K Dhir told PTI.
He said the company will make the investment from a mix of internal accruals and equity funding, he added.
There are currently 11 Giovani exclusive outlets in Delhi NCR, Bangalore, Kolkata, Chandigarh, Jaipur and Chennai. The brand is also available in over 200 large format departmental stores and multi-barnded outlets.
Dhir said the company will also launch special collections for teenegers later this year and also plans to open dedicated stores to the segment.
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"We will launch special collections for teenagers later this year which will consists of city-wear items like jackets, shirts, trousers and knitwear. Our intention is to tap this customer segment which other brands have not tapped," he said.
He said the company may also look at opening special stores dedicated to the teenage lines.
"We may look at launching a few such exclusive outlets in 2011 at the major metros but details have yet to be worked out," Dhir said.
Giovani's teenage range will cater to both boys and girls and positioned at a price point slightly below that of its existing lines for men and women.
Dhir Global had acquired the Italian brand's business in South and South East Asia in 1999 for an undisclosed sum.
Giovani sells a range of men's and women's wear like suits, jackets, shirts, T-shirts, trousers and tunics in both formal and casual categories.
While its suits for men's have an average price range of Rs 6,000 to Rs 9,000, dresses for women come at Rs 2,000-5,500 and tunics for Rs 1,400 to Rs 3,700.