Running 200 stores with 10 brands in its kitty, Major Brands (India) has become a leading franchisee for some major international retailers. Going forward, it aims to have 500 stores in the next five years. Tushar Ved, President, Major Brands (India), shares more on its retail expansion.
How long have you been associated with Major Brands?
I moved here from Dubai in 2010. With some brands, I have been fully involved from the beginning. Previously, Kamal Kotak and the chairman were also involved.
How do you decide on a brand or a category you want to include under Major Brand’s umbrella?
We don’t look at the past performance of the brand and try to predict whether it will do well in the future. While choosing a brand or a category, we consider everything which people are talking about like cosmetics, footwear, grooming products, fashion etc. The sports category is also doing extremely well in India. Today, people want to look good while they are working out and so, we are trying to find a balance here. Also, we have Bath & Body Works and Inglot under the wellness category, Promod and Beverly Hills Polo Club in fashion and Charles & Keith and Aldo in the footwear.
Are all of these franchise tie-ups?
It doesn’t matter whether they are franchised or licensed as long as the agreement says that the stores will be operated by us. We do retail, ecommerce, shop-in-shop. We have all the rights. Each company has their own way of thinking.
This story is from the July 2018 edition of Entrepreneur magazine.
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This story is from the July 2018 edition of Entrepreneur magazine.
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