We aim to reach Rs 150 crore revenue in India by 2025, says Giordano’s Mark Alan Loynd

Apparel and accessories brand Giordano on Thursday said it aims to double its revenue to Rs 40 crore by next year and expand into 20 states and 60 cities by 2026. Headquartered in Hong Kong, the brand, which has 1,800 stores across 30 countries, said it’s targeting revenues of Rs 150 crore from India in the next two years.

“One of the tenets of our brand is being simple. We give the freedom to local markets to interpret the brand the way they like. Our vision is to be the biggest brand in apparel retailing. India is a key market for us. We’re looking to expand our presence here,” said Mark Alan Loynd, Head of Overseas Market Development at Giordano International.

In markets like South Korea, Giordano positions itself a premium brand by tying up with major K-pop and K-drama stars but in India it positions itself as a “bridge to premium” brand. “In India, we can’t change the price and the product too much; our DNA has to remain the same. We’re planning to double its reach and aims to expand into metro and tier 2 and tier 3 markets,” Loynd said.

The brand is strategically positioning itself to capitalise on India’s overcrowded, but flourishing casual wear market, and competes with Levi’s, Lee, H&M, Zara, etc. It sells apparel in the Rs 700–25,000 range and is betting on both apparel and accessories to do well in India. Giordano’s expansion plan coincides with the anticipated $4.5 trillion growth in India’s retail market by the end of the decade. “India has consistently stood out as a beacon of opportunity for us. With a significant young population, the country boasts an unparalleled demographic advantage. Plus, the discerning and well-travelled consumer cohort signifies that there has never been a more opportune time to intensify our focus towards India. I am confident that the decision to significantly expand our points of sale and penetrate deeper into burgeoning sub-markets will strategically position us for success in this key global geography,” Ishwar Chugani, CEO and Managing Director of Giordano Middle East and member of the Management Committee of Giordano International, Hong Kong, said.

He added that India will be its next big global market. “It’s never too late to expand here. I believe in our focus on inventory that it should always be an asset never a liability. Indian customers make up a significant chunk of our global business in markets like Singapore. We’re not into high fashion and complicated fashion so I think it’ll work well for this market,” he adds.

In tandem with its offline expansion, Giordano is set to enhance its online presence through platforms like Myntra and Ajio as well.

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