Gini & Jony plans to have 200 stores by 2008


Kolkata, Gini & Jony Apparel Pvt Ltd, the Rs 160-crore children's wear company, is targeting 200 stores in the country by 2008 through exclusive brand outlets (EBOs) and freedom fashion (FF) stores. The company, which has 45 stores across India with 26 EBOs, has tied up with Pantaloons, Shopper's Stop and Lifestyle for a shop-in-shop inside their retail chains. G&J has also planned to push its turnover to Rs 1011 crore by 2011.

With a significant presence in Dubai and Bahrain, G&J has planned to open stores in the Far East and Europe from early next year. "We have also planned to take FF stores overseas along with EBOs," business head Puneet Tripathi said.

G&J, which would source funds for its expansion plans mainly from internal accruals, is planning to hit the capital market with an initial public offer by the year-end.

"While a major portion of the investments would be from internal accruals, we might also go to the market," said Tripathi.

"The target is to reach a turnover of Rs 1011 crore by 2011," he said. The organised sector of the kidswear segment, which is merely 8-9% of the Rs 15,000 crore market, is growing at 20%, while G&J's growth is more than that, said Tripathi.

The company sells its own brand—the 'Gini & Jony' kids' lifestyle brand—along with four others, such as Benetton, Levi's Sykes Junior and Reebok Juniors in the FF outlets. G&J is the sole manufacturer and retailer of the Levi's kids range, Levi's Sykes Junior, in India.

G&J is planning to introduce shoes and soft toys in its accessories section. "The ideal ratio is 15% for accessories, and we are trying to reach that," Tripathi said.

Source: Financial Express, India