HONG KONG: Giordano Planning Indian Retail Operation?
Hong Kong fashion retailer and distributor Giordano International Ltd is planning to expand its retail operations into India early in 2006, Giordano's director of corporate and external affairs told Dow Jones in an interview.
William Yue said Giordano aims to capitalise on a surge in spending in India through a deal with a local partner, and has set its sights on between four and six stores there during its first year of operation.
The company is also mulling India as a sourcing base, Yue said, but is aware of the country's problematic transportation infrastructure.
China will continue to be the main source of Giordano's earnings, with 100 new stores planned for 2005.
It was also reported today that Giordano saw a 15 per cent rise in first-quarter revenue, with a 1 per cent rise in same-store sales.
Hong Kong saw the biggest same-store increase at 5 per cent, followed by 3 per cent in Singapore, 2 per cent in Taiwan, and 1 per cent in China.
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