Retail Plus
Chennai
The 'Basics' of 'Genesis'
“Value as a proposition can mean a whole lot of things to a whole lot of people. To the millionaire the "Mercedes" can mean tremendous value to complement his stature and lifestyle,” says Hanif Sattar, Managing Partner, Genesis. “To the start up "flying” can mean tremendous value as it complements his time management techniques. To the working middle class working married man who has a working wife as well and two children "the best school in town" will mean tremendous value and mind you this is irrespective of costs. Well for us our USP would be to simply put ‘fantastic value’ delivered in all that we do.”
Started in 1992 in Egmore, the 34th Genesis store opened at Velachery on Nov 4th this year. Hanif adds, “When we started, our prime function and skillsat that time were to tailor trousers and shirts. From here it evolvedinto making readymade shirts and trousers under the brand name Genesis. Subsequently "Basics" was launched in 1995 with the USP of casual shirts and trousers for the same customer who was already buying "Genesis"formal shirts and trousers. This was when the upsurge started. At this point in time some of the big apparel / branded houses had launched ‘Smart Casuals’ - this was the beginning of a revolution in men’s wear. Chennai being the Mecca of retailing in the south we were right there in the middle of it all.”
Besides the fierce competition the industry does face other challenges. As Suhail Sattar, Managing Partner, Genesis, explains, “The singular biggest challenge that is faced by entrepreneurs in our industry is "scaling". Most brands or apparel companies are able to make inroads up until they reach a place where the only way to go would be exponential growth. Rents which are sky high, locations which are not available even if one has to pay an exorbitant sum, talent which is available but at astronomical costs, dealers who will be willing to sell your products only if you had to commit the moon and finally inventing a model which will give one the edge. At this point in time one can safely say that all models of pricing, retailing, branding have more or less been explored and those that have not been tried are that way for good reason!”
The brothers modestly concur, “To be honest we do not have a formal mission statement. But the fact is that we are feverishly working towards reaching 200 stores and to be meaningful as a company to all the people associated with us in the truest sense of the word. To be a role model for all young aspiring entrepreneurs and to deliver incredible value in all that we do. To attract the best talent nationally and internationally and to have a place in the world and amongst the top brands both nationally and internationally. Our dream is to make all of this happen by the end of the year 2010...and the road map to that destination is very clear and has been mapped well”.
SABRINA RAJAN
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