On the companys new plans, Mr Lakhani said: Our footwear and fashion accessories range will be outsourced from Mumbai and Delhi. The positioning and target audience for our new products is Sec A+, A and B+ and in the segment we will be competing with brands such as Nike and Reebok among others. Our footwear will be priced between Rs 495 and Rs 1,695 whereas hi-fashion long shoes for girls will be available for Rs 2,200.
As part of its marketing strategy, the company will initially market its footwear through Powai-based LOFT, which is one of the largest footwear stores in Mumbai. Besides, the company is also planning to expand its number of franchisee-operated exclusive showrooms called Gini And Jony from 27 to 150 within the next two years.
We are also planning to beef up our number of shop-in-shops within premium retail outlets and malls from 40 to 60 within a year. In addition, we will also increase our number of dealers from 180 to 220 within a year. At present, we have 10 factory outlets in India, he said.
The company is eyeing countries such as Malaysia and South Africa for exports this year. It is looking for more shelf space in the Middle East.
But prior to the move, the company is planning to set up its Gini And Jony stallwhich will include its entire product rangeat the garment exhibition slated for November in Kuala Lumpur, Malaysia. Depending on the consumer response, we will form a distribution network, he added.
According to Mr Lakhani, with the new initiatives, the company expects exports contribution to grow from 15 to 30 per cent within a year. In addition, it also hopes the new marketing initiatives to contribute an additional 40 per cent to its overall sales turnover.