Magazines Archives - 2008 February

Giordano to open 25 stores in India by end-2008
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GIORDANO INTERNATIONAL, Hong Kong-based fashion apparel and accessories retailer, revealed that the group is looking to expand further into India, following the regulated 51% foreign direct investment (FDI) route for single-brand retailers.

Through its exclusive distributor, Giordano Fashions India Pvt Ltd, the group has proposed to hold a majority stake and will open more than 25 stores by year-end, upon approval by the Foreign
Investment Promotion Board (FIPB).

Said Ishwar Chugani, director of Giordano Fashions India: “Most Indian customers are aware of Giordano because of the company’s strong presence in the nearby GCC (Gulf Cooperation
Council), Australian and Asian markets.”

In anticipation of the group’s expansion throughout India, into cities such as Bangalore, Hyderabad, Pune and Kolkata, among others, the group has opened three outlets, one in Delhi and two in Mumbai, bringing the total number of its stores in India to six.

“India is now the focus of every international retail chain because of its accelerating economic growth. Our presence in Delhi, Mumbai, Chennai and Ahmedabad will further strengthen our
brand’s positioning in India,” said Peter Lau, chairman and CEO of Giordano International.