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Purvita Chatterjee

Mumbai , Sept. 26

THE Rajan Raheja Group-promoted retailing company, Globus Stores Pvt Ltd, is negotiating with ICICI Bank for a co-branded card.

Considering most of the branded retailers have already tied up with separate banks for retail store cards, Globus is now looking at the possibility of launching a card along similar lines. Speaking to Business Line, Mr Vinay Nadkarni, CEO, Globus Stores Pvt Ltd, said: "We are talking to ICICI Bank and considering launching a co-branded card which could be along the lines of a loyalty cum credit card."

Meanwhile, the retailer is also considering tilting the balance in favour of its in-store brands. Its in-store brands such as Globus and F 21 are expected to comprise nearly 75 per cent of the store's offerings. Adds Mr Nadkarni, "Today our in-store brands comprise about 40-45 per cent of the merchandise. We are planning to increase it to nearly 75 per cent at each of our stores.''

Having launched its latest store at Kala Ghoda in South Mumbai recently, the new outlet will prove to be the most expensive in terms of real estate costs for the retailer, which has its other store in Bandra — in the suburbs of Mumbai.

Besides, Globus is also open to forging associations in the area of accessories. "We are looking at new categories in accessories such as footwear, handbags, coloured wigs and tattoos and if we get somebody, we might look at tie ups in these areas. At the moment we continue to source our accessories from the local market," says Mr Nadkarni.

At the same time, the retailer is also eyeing the services sector and there is a possibility of venturing into the same with certain youth oriented offerings. "We might look at services in future and it could be in the area of beauty concepts for the youth such as makeovers," suggests Mr Nadkarni.

With a target audience comprising primarily the age group between 18-35, Globus has positioned its store as `fashion for a changing world'.

Appointing Euro RSCG as its creative agency, it has decided to stay away from celebrity-based communication. "We feel the youth are not always influenced by celebrities but in future one never knows we may look at one. At the moment Globus is the brand that bridges the gap between fashion and accessibility," says Mr Nadkarni.

Launched in 1998, Globus started its first store in Indore and expects to complete 50 stores within a span of two years.

"All our new stores will be funded by internal accruals and our biggest challenge is to keep pace with the changing needs of the youth," says Mr Nadkarni. Globus will be launching its new stores in Thane, Delhi, Kanpur and Pune shortly.

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