In conversation with Nina Lekhi, MD & Chief Design Curator, Baggit, who talks about the brand’s expansion plan.
Handy, trendy with chic accessories lifestyle brand Baggit with 48 exclusive franchises stores is planning to open around 20 more stores by the end of this year while being specific about partnering with active yet passionate franchise entrepreneurs. Probably the brand is looking for young men and women entrepreneurs who want to start their own business. With this expansion the brand is eyeing to tap more aspiring young generation spread across tier II cities across the country. Simultaneously the brand is working towards creating a seamless experience by integrating each platform and device that the consumers utilize to provide the Baggit brand experience. It is ambitiously aiming to open at least one store in each city of India. Thus talking about the future plans of the brand Nina Lekhi, MD & Chief Design Curator, Baggit spoke to Franchiseindia.com.
What is the USP of Baggit as a brand?
Baggit products are made in India from eco-friendly; vegan materials approved by PETA and are excellent in terms of functionality. We offer handy, trendy and chic accessories like bags and wallets in various colors and styles at reasonable prices. The width of our products and offerings in each category is also a strong selling point. Since we are manufacturing here, we have the liberty to experiment and each and every bag is tried and tested before launching. We understand the market better than Chinese products.
When did you start franchising and what attracted you towards it?
Established in 1990 we started franchising since 2009. We don’t only want franchisees to be active partners in business, but also want them to invest as silent partners.
In a franchisee we see hunger of doing an independent business. How much money we’re asking that’s the first criteria, but most important is how much passion a franchisee has to handle retail business as it’s a difficult business. We don’t have any holidays. On the contrary on Diwali we are working and on other festivals also we are in stores. 365 days we’re working. No holidays on any occasion. Dependability is also on stake. Market knowledge, market demands are also considered. This market needs college bags or laptop bags. Ratio of franchisee is less as we don’t want professionals who already have 25 stores of different brands. Young women entrepreneurs who want to start their own business or young people.
Presently how many franchisees do you have?
48 exclusive stores and retail through over 1,000 large format stores, multi-brand outlets and online retailers. Investment is calculated based upon the business projections.
What is your business vision and future strategy?
Baggit is working towards creating a seamless experience by integrating each platform and device that the consumers utilize to provide the Baggit brand experience. We have a plan to open 20 new stores by the end of this year especially targeting tier II cities expansion. We are working towards opening at least one store in each city of India. It is projected to grow double digit this year.
Do you provide support to the franchisee in operational systems?
Various expenses of the store are divided between the franchisee and the brand. We advise and allow the franchisee to take decision depending upon their experience and do constant hand-holding.
According to you what is the projected growth for the industry?
The industry will grow by double digit figure that is a strong catalyst for expanding our business and also make forays into international markets.