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: the margin on our collections will be less. It’s not philanthropy; it’s pure business.
What are GNC’s plans for India? How many stores are you going to add and what about the planned investment?
Apart from sale points at multi-branded stores like pro-shops in golf courses and department stores, we plan to open 10 exclusive stores this year. We have a target of rolling out 100 stores in the next five years. The showrooms will be launched in metros and tier I cities, that too in premium malls. From the second year, we will be rather aggressive in our approach. Investment will be to the tune of Rs 50 lakh per store.
How much of a role does FDI restrictions play in this segment? Would you like a more liberalised regime?
FDI restricts multi-brand retail, but is permissible under the single-brand window with a 51:49 equity ratio. Currently, international brands retail in India through franchise, licence or distribution routes. If FDI for single-brand retail is permitted, a lot of brands will be ready to invest in India. And I believe it will be a win-win for the economy and the consumer at large. So we would definitely want the restrictions to be eased. Why should you restrict anybody and, who are you trying to protect in this process?
How different are Greg Norman collections from those of Reebok or adidas or Nike because all of them project themselves as lifestyle brands?
Reebok, adidas and Nike are active sportswear brands. In the golf segment, they focus only on performance wear. GNC is not limited to that category because it’s a complete golf-inspired lifestyle product line that is positioned on luxury, performance and style.
Who do you consider your competitors in India and what is your edge over them?
Our competition is with any brand that is vying for the same pie. On the performance side, the sporting giants are a competition and on the lifestyle side, we compete with Lacoste, Nautica etc. On our part, we try and excite the consumer into buying our products. I am not saying others are not doing the same. Our perception of the sport is different, so is our focus. He is our consumer who feels golf is not just a game, it’s a lifestyle. Hence right now our target consumer is the person who plays golf or is inspired by it, irrespective of the age group. But yes, anybody is welcome...
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