26 July 2017

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Globalite: Leading Sports Lifestyle Brand in India

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Globalite Industries has created a niche in the Indian sportswear market in a short span of time. From its humble beginnings in 2011 as a brainchild of Aayushi Kishore, the co founder and currently the CEO of Globalite Retail, the company is today the only footwear brand in the country which is doing own manufacturing to end customer retail. For direct customer retail, Globalite has penetrated the market with new age channels like their own portal, upcoming mobile app, globalitesports.com for online shopping and a TV shop name Global Fashion Shop.

Globalite Industries has done over 100 crore of sales over the last 3 years, with the target to reach about 60 crores by FY 15. It is present in over 300 counters of modern wholesale, with all leading retail giants.   In India too, it is the leading brand in its segment on the biggest online retailers. In the present 15000 core+ Indian footwear market Globalite has successfully branded itself as a frontrunner and an industry bigwig.

Journey of Globalite so Far- Globalite was born out of the desire to bring to the fore aspiraional, trendy, good looking products with excellent quality at a good price. In the words of co founder, Ms. Aayushi Kishore "India, had either few top rated international brands and only a small fraction of our population could afford this. Others players here are local manufacturers or private labels; there were very few mid segment brands that aspired to give an aspiration product at the right price".

Globalite has successfully filled that gap and has successfully pioneered in creating a market that was not traditionally seen. They started with offline and online mode; today they have indigenized the entire manufacturing, tracing the journey of Globalite in the period of last four years from its inception in 2011.

A Word on the Founders:

Globalite was started by Aayushi Kishore in 2011 along with the guidance of her father. After her higher abroad studies together they launched Globalite, a sports lifestyle brand. Aayushi who got an opportunity to learn at London School of Economics in Public Economics and a Key Entrepreneurship Program at Harvard Business School, has lead management roles on both production and sales side. Her core expertise for Globalite is in product development, procurement, budgeting and costing, developing and managing new channels of sale.

Business Model and Product Line:

Globalite is a footwear manufacturing company and own the sports lifestyle brand Globalite. It is a leading footwear lifestyle brands in this segment. In the words of its young co-founder Ms.Aayushi Kishore "We are the leading consumer footwear brand in online. We are 100% vertically integrated in manufacturing. We sell both sports footwear and apparel". The company has launched Globalitesport.com (the brand’s own web portal) and Global Fashion Shop (the brand’s own TV shop) for direct customer retail.

Awards and Recognitions: Some of the major awards and recognitions received by Globalite include:

  • 2011-12     Brand  Launch
  • 2013         Fastest Growing Internet & TV commerce Brand    Franchise India E-Retail Award 2013
  • 2013         Set up 100% vertically integrated captive manufacturing facilities
  • 2014         Awarded Best Value Brand on Flipkart 2014   (among 2000 cross industry brand vying)
  • 2015         Launched Own TV Shop – Global Fashion Shop, clocked Highest Gross  Margin/per minute in industry
  • 2015         Aayushi Kishore ( Co-Founder) was awarded the Business World Young Entrepreneurship Award 2015 for Globalite

 

Branches and Franchise of Globalite:

Globalite is the only brand in the industry from 100% vertically integrated manufacturing facility to direct end customer marketing. Since we are primarily selling online, we are able to sell our products at a price that no one else in the industry can reveals Aayushi. "We have a game changing business plan: delivering the best value for money proposition directly to the customer at their doorstep, eliminating all middlemen (retailers/ wholesalers)".

Funding and Finances:

The company was initially started with self funding and debt leveraged. As of now the company is self funded with approximate internal accruals of around Rs. 8 crores with a bank debt of Rs. 7 Crores.

Marketing Strategies Adopted by Globalite

“We have done a lot of marketing through the internet and have gone strong via commerce, we are a leading and visible brands across third part e-commerce sites”, says Aayushi. "We are also very strong via TV selling and have significant sales in this way” reveals Aayushi

Challenges Faced:

India is a fairly brand sensitive market and it was initially hard to break through the brand loyal mindsets in Tier I and Tier II cities. The company cofounder Aayushi remains optimistic to bypass the challenge as she says "But we were able to penetrate the market through the value for money we gave in our products".

Future Plans and the Road Ahead:

The lifestyle sector is emerging stronger and fashion and lifestyle constitutes around 15% of the online sales and this number is sure set to grow. Our growth plans include scaling up the Direct to Customer channels – ecommerce through our own portal, own TV shop and own App. Also focusing on all the emerging online market places reveals Aayushi.

 



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