JadeBlue

Franchise News India,Franchise In Gujarat,JadeBlue, lifestyle retail chain in Gujarat, plans to open 15 large format new stores across India over the next five years with an investment of Rs 45 crore-Rs 50 crore to aggressively tap its popular in-house brands including the popular stylish Modi Kurta label, named after Prime Minister Narendra Modi.

The Ahmedabad-based 34-year-old firm, which opened its 20th store in Pune last week-end, sells a range of hot fashion brands such as Tommy Hilfiger, Jack &Jones, Calvin Klein, Ed Hardy, GAS, GANT, Levis, Being Human, US Polo, United Colours of Benetton, Burnt Umber, Pepe, Louis Philllipe, Arrow, Wills, among others.

“We are growing at the CAGR of 20-25 per cent annually and our six popular in-hours brands account for over 33 per cent of the total revenue,” Jitendra Chauhan, chairman and managing director at Jade Blue Lifestyle India told Financial Chronicle.

He said the company was targeting total revenues of over Rs 300 crore by financial year 2017. The company clocked sales revenues of Rs 182 crore in financial year 2014. “Next fiscal, we will easily cross Rs 225 crore,” Chauhan said.

He said the company was working hard in the backend operations for the growth of its in-house brands which accounted for 33 per cent of its total sales revenues.

The in-house brand comprises of JadeBlue, Greenfibre, Metal, JB Studio, Azania and Modi Kurta.

“The stylish iconic Modi Kurta, and Modi Jacket, a trade mark brand of JadeBlue cost in the Rs 1,200 – Rs 3,000 range and Rs 2,800 – Rs 6,000 range respectively,” Chauhan, 55, said. The Modi Kurta and Modi Jacket come in 12 varieties in 20 colours, he said.

“We have been stitching the Modi Kurta, and Modi Jacket for Narendra Modi Ji since 1989 when he was a RSS Pracharak. The half kurta is Modi’s creation of iconic stylem which has become immensely popular,” Chauhan said.

He said the Prime Minister was attracted to JadeBlue as it provided specialist advice on fabrics and style that were best for his physique, for the specific occasion and the current trends.

The other in-house brands are priced in the Rs 899 – Rs 1,400 range and the costliest Indo-Western wedding designer suits for men go up to Rs 10,000 – Rs 75,000.

The company also offers the finest fabrics from around the world such as ErmenegildoZegna, Scabal, Dormeuil, Reda, Vitale Barberis, Raymond, Reid & Taylor, J Hampstead, Lombard, Thomas Mason, SIC Tess, Tessitura Albeni, Monti, and Soktas.

At present, JadeBlue, besides Gujarat, sells its merchandise in Madhya Pradesh, Telangana, Rajasthan, Maharashtra and Chattisgarh.

“The new 15 large format stores will be company owned and in the 8,000 – 12,000 sq ft range with an average of 17,000 – 25,000 SKUs in these stores,” Chauhan said.



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