Business Daily from THE HINDU group of publications
Tuesday, Dec 25, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Dec 25, 2007 ePaper | Mobile/PDA Version |
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Corporate
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Alliances & Joint Ventures GAS likely to set up manufacturing unit in India
Divya Trivedi Mumbai, Dec 24 GAS, the 50:50 joint venture of Raymond and Italian Grotto SPA, might set up a manufacturing base in India, its first outside Italy, Mr Zohair Officewallah, Chief Operating Officer, GAS, told Business Line. “We are thinking of manufacturing accessories, particularly those of leather, which would help save on customs duties. But we are still at a very early stage of discussions and nothing has been finalised yet,” said Mr Officewallah. GAS hopes to leverage Raymond’s existing facilities for the purpose, but will retain its separate identity and styling concept, he added. Denim, which constitutes 75 per cent of the brand’s offerings, might be the other item to be produced from India, he added. At present, all products are imported from Italy, which is the central manufacturing base for GAS. By March 2008, GAS will bring its inner wear, beachwear and perfumes to India, which will be available across all exclusive stores and a few select outlets. Also in the pipeline is the Italian company’s kids-wear range that will be introduced in India during next year’s Autumn-Winter season, said Mr Officewallah. Gas currently operates through 120 points-of-sales with six flagship stores, 16 large formats, one franchisee and the rest in multi brand outlets. “Our flagship outlets are the most successful, contributing to 55 per cent of our overall business, while large formats bring in 30 per cent and 15 per cent comes from multi-brand outlets,” he said. GAS ventured into India early this year and has sold around 90 million jeans. Their global turnover for 2006 was around €150 million of which 20 per cent came from their global business. In the next three years, GAS is looking to capture 10-12 per cent of the branded organised sector of India with 600 points-of-sales and a turnover of Rs 200 crore at retail point, he said. Catering to an age group of 18 to 35, GAS offers premium high-end clothes and accessories, starting from Rs 2,500 going up to Rs 30,000. More Stories on : Alliances & Joint Ventures | Readymade Garments | Brands
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