Giordano Girds Up For Local Alliance

Giordano, the multinational lifestyle company, is planning to enter into a strategic alliance with an Indian company for its foray into the local market.

Giordano is into retailing and distribution of value-for-money casual apparels and accessories.

Peter Lau, chairman of Giordano International, said, "We are in the process of identifying a local partner who would partner us for our foray into the Indian market. Discussions are on with some Indian companies."

However, he refused to divulge the names of the local companies Giordano is talking to. "We would be launching our brands within the next three to four month's time," Lau added. Giordano's vision is to be the best and biggest world brand in apparel retailing.

The chain will be operating in India through Giordano Fashions L.L.C, a joint venture between Emirates Trading Agency, Dubai, and Giordano International, Hong Kong.

'We have being studying the apparel retailing market and has been doing the groundwork for the chain's entry into India for quite some time," said Ishwar Chugani, Dubai-based executive director of Giordano Fashions L.L.C., the master franchise holder and exclusive distributor of Giordano products in the Middle East, North Africa and India.

The group already has a presence in India through Giordano-ETA India, its liasion office in Chennai, which looks after the chain's sourcing requirements. The group that is setting up shop by the first quarter of next year plans to set up at least 100 stores in 3-5 years.

Giordano has over 1000 stores in 30 countries in Asia, Middle East, Australia and Europe.

The Asian chain recorded a turnover of HK$3.4 billion for the fiscal year ending December 2000, a year on year increase of 11 per cent.

Founded three decades ago by Hong Kong-based businessman, Jimmy Lal, Giordano is an aggressive volume oriented retailer of unisex casual apparel catering to a market, which is young and with a thirst for refreshing and affordable clothes.

In an industry, which is plagued by constantly changing trends that create rising production costs, Giordano has developed a more pliant approach to fashion retailing.