Apparel Online India Magazine March 1st Issue 2019 | Page 47
INDIA’S PREMIER SOURCING SHOW
growing aspirations, democratization of information, media
exposure, young demographics, rising spending power and
improving lifestyle standards.
CHANGING PROFILE OF FRANCHISEE
ENTREPRENEURS
An important essence for its success has been our association
with like-minded franchisees who have brought alive the
immersive Raymond experience through their market
knowledge, hands-on operations and adherence to the operating
business-framework.
In our pursuit of nurturing entrepreneurs, over 50 per cent of
new stores have been opened by the first-time entrepreneurs.
This has broaden the horizon of our franchise partnership with
new flavors of entrepreneurs and professionals coming from
different industries and looking at fashion retail in a completely
new perspective. With the Agile & Asset-lite model, these
entrepreneurs are more receptive to opening a retail outlet,
although they have no formal background in retail.
FIVE PILLARS FOR FRANCHISEES
More than just a transactional relationship, the company
strongly believes in an ethic-based relationship with its
franchisees. Apart from the financial hygiene, entrepreneurs
need to be obsessive about their customers, provide value for
money and yet best-in-class product and services, along with
relationship-building skills. Additionally, they also need to blend
their business values with 5 cultural pillars for Raymond – they
need to have the bias for Action, Transparency, Accountability,
Collaborations and Meritocracy.
NURTURING INNOVATION
With the approach of ‘keeping the customer at the heart of
every activity’, the franchise model truly encourages the
entrepreneurial spirit. Franchisee partners are empowered to
recognise and leverage opportunities through well-structured
engagement plans.
With the idea of empowering franchises and generating
sustained buzz at stores, the team worked on a robust
framework of Local Store Marketing (LSM). From 621 LSM
activations in 2017, the team propelled to over 10,000 LSM store
activations in 2018 and momentum continues this year with team
setting new milestones.
Through LSM, we intended to be the catalyst in bringing about
mind-set change and drive exponential growth by challenging
status-quo, setting new benchmarks in empowerment and
bringing alive immersive customer experience at our stores.
GROWTH MANTRA
We have a mantra for growth that we internally refer to as 5Gs
of growth. These 5 dimensions of growth are competitive growth
(grow faster than the competition); profitable growth (positive
EBIT); sustainable growth (continuous year-on-year); inclusive
growth (company and franchise partners); and experiential
growth (enhancing customer experience).
www.apparelresources.com | MARCH 1-15, 2019 | Apparel Online India
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