GUESS International, one of the world’s leading luxury brands recently opened its first offline store at DLF, Mall of India. It is a global fashion company with a nearly four-decade history of producing trendsetting clothing and accessories. In a detailed conversation with TMM, Manoj Kumar Nair, CEO, Gaurik Lifestyle –GUESS, talks about the brand philosophy, the growing luxury market in India and much more.
First of all, many congratulations! What led to bringing the first offline store of Guess International to India?
Thank you! As per the Retail Association of India, the retail industry achieved 93% of pre-covid sales in February 2021. The market size is projected to reach close to US$ 1.3 trillion by the year 2024. Things are looking good for the retail sector in India. At GUESS, we expect to reach the 300 crores mark in the next 5 years. We opened our first store at the DLF Mall of India, Noida recently and are planning to further open up at prime locations in Mumbai and Pune in the coming months. The aim is to launch more than 10 stores by the end of this financial year. The market sentiments post-pandemic have been quite buoyant in terms of retail. The consumer demand has continued to improve after the second wave which paves the way for our entry into the Indian Market.
Tell us a bit about the brand philosophy of Guess International.
Guess is known for a timeless fashion, and now we are taking a step ahead towards sustainable fashion, in which we aim to contribute to the entire well-being of the community. GUESS was founded in 1981 as a denim company and has since expanded to become a global lifestyle brand. Guess?, Inc. creates a lifestyle line of contemporary garments, denim, handbags, watches, eyeglasses, footwear, and other consumer goods that it markets, distributes, and licenses. As of May 1, 2021, the Company directly operated 1,041 retail stores in the Americas, Europe, and Asia. The Company’s partners and distributors operated 539 additional retail stores worldwide. As of May 1, 2021, the Company and its partners and distributors operated in approximately 100 countries worldwide.
In the last decade, there has been a spike in demand for luxury products in India. What do you think is the reason behind this change of taste?
Travel, digital media, and smartphones have changed Indian consumers’ buying habits. Additionally, disposable income within households has increased, resulting in increasing expenditure on luxury and comfort. The fashion business is adjusting to the post-pandemic environment. The current fashion trend is comfort. It proposes that people are adopting a more relaxed, casual-aesthetic wardrobe. Accessibility through e-commerce could be one factor for the rise in demand for luxury goods. It is now incredibly simple to learn about and purchase a luxury item.
At DLF, there are many more luxury brands. How do you see the competitive luxury market?
Yes, the DLF Mall of India has a fantastic brand mix, and malls like this entice like-minded shoppers, boosting all brands. Each brand has its own DNA, and today’s consumer is well-informed about what he or she wants. As a result, it’s a healthy competition, and every one of us must strive to be our best every day. The vast size and diversity of the Indian market provide us with the possibility to reach our target audience.
This year, month on month customer demand has continued to rise, paving the path for Guess to enter the other Indian market.
Tell us a bit about the market research that Guess International did in India before setting up the first store. Anything interesting?
GUESS is one of the brands in India that has the highest brand recall. GUESS is a global fashion company with a nearly four-decade history of producing trendsetting clothing and accessories. For the 
convenience of our customers, the brand wants to expand its base to tier-1 metropolitan areas initially, and then gradually penetrate into tier-2 metros, touching the top-grossing malls. Then, as time goes on, we’ll look into approaching micro markets.
By the conclusion of the current year, the goal is to open stores in more than ten locations.
In terms of retail, the market’s attitude has been relatively positive since the outbreak. After the second wave, consumer demand has continued to rise, paving the door for our debut into the Indian market.
Tell us about the product range that will be available at this offline store.
Guess stores will currently offer apparel, footwear, jewellery, watches, perfumes, eyewear, and lingerie, but as additional stores open, more categories will be added. The beautiful thing about Guess is that all of the categories complement one another. Another key category to look out for is a wide range of handbags – from satchels to totes and backpacks to luggage, there is something for everyone at the store. All these collections will feature iconic classy, timeless pieces that will be sure to grab eyeballs. Accessories are coming in as the favorites of the new-age consumer. We are looking at bold, statement pieces to accentuate the more casual athleisure apparel.
Do you think that this move will affect the business of online stores in the Indian context?
No, both channels will work in unison, and stores will always be a brand experience space. India as a society always appreciates the reassurance and even today not everyone is digital-savvy. Having both an online and offline presence, we want to provide an ease of shopping to consumers and hence keep the collection same on both platforms. Brick and mortar stores have always been praised in India by the audience who prefer to be assured of the quality of the products through touch and feel.
COVID has impacted every business in the last 1.5 years. How are you prepared as a team for the third wave?
India as a country is vaccinating people in high numbers especially in urban areas and hence there is confidence in doing business and Guess is opening stores across India in the coming months. But also, like any other brand, we do not want to confront the third wave and have made our online presence strong through e-commerce and omnichannel. The strategy has been holistic, and the brand will remain grounded in reality.
We can assure that whatever comes ahead, we will face it with determination, safety, and positivity. We are always on our toes when it comes to providing comfort and the best brand experience to our customers, so even though we pray for the third wave not to come and all businesses keep running, our online and offline stores will complement each other and will provide the best brand experience to our customers.
The post THE NEW CHAPTER OF GUESS appeared first on TMM.