The franchising model of Easybuy has been tried and tested and it has already been proved as a successful model. Read on...
Easybuy, the youngest and most trending format of Landmark Group is growing strong by making an affordable business opportunity especially for the smaller towns, which made it reach to the list of Top Franchise 100 Brands.
Easybuy came to life in 2014 as part of Max's retail division by the Landmark Group, after observing the opportunity, which was emerging in India in the affordable trendy lifestyle segment in the small towns, majorly untapped then. Landmark Group was one of the few companies who could see this as an opportunity and turned it into a fortune of Rs 330+ crore.
Max has been in India for over 10 years and is one of the largest value fashion brands with focuses presence in metro cities. Given the size and operational model, the cost equation was not found viable for small towns, because small towns are more price-conscious and the company has had to aggressively price its products in order to attain volume and scale.
In a recent interview, Anand Aiyer, SVP & Business Head – Easybuy (Max Retail Division) said “Our vision is to become the most preferred value fashion destination for the aspirational ‘Navbharat’ families who are seeking ‘super styles at super prices’.
We will successfully close this year with a turnover of over Rs 330 crore+ with over 75+ stores and by 2022, we aim to achieve Rs 1000+ crore turnovers with over 200+ stores.”
“Easybuy was created with a very unique proposition. It is the only ‘compact family format’ in India that offers trendy fashion for the entire family – including footwear and accessories – under one roof, in 5000 sq. ft. of retail space. The prices offered by us are lower by anywhere between 20- 25 percent from the nearest competition. So, in a nutshell, our USP is ‘providing in trend styles at delightful prices with high productivity’” says Aiyer.
The franchising model of Easybuy has been tried and tested and it has already been proved as a successful model. The existing franchisees have scaled up to 3-4 stores within the cluster, which is primarily due to higher sales than projections with better returns on investment.
Easybuy is moving ahead with a vision to open at least one franchisee in every district headquarter of India, which reflects that huge opportunities lie ahead of the smaller towns, especially for the aspiring franchisees.
Aiyer adds, “We are building an FMCG model in fashion, where scale is critical for profitability and hence we need to expand faster. For faster expansion and local understanding, franchising is the best model, and so we chose the franchisee route. Today, we are one of the fastest growing businesses in India.
India is a land of opportunities and the franchising model works best, but one must carefully understand market barriers and challenges to ensure this model is built for profitable growth. We consider franchisees as our success partners and hence they play a very critical role in our model. Apart from choosing the right location, we work very closely with franchisees in staffing, recruitment and store operations, apart from leveraging their local knowledge as input into our local marketing plans.”
The Franchising World, India’s no.1 franchising magazine, identifies the TOP 100 franchise brands and celebrates their achievements every year in its anniversary issue. The issue highlights the established Indian and big global brands that are increasing their positioning in India along with the new-age brands that are lucrative and profitable; expanding fast, and can act as a reference guide for budding entrepreneurs and investors across India.
Franchise Top 100 is the one-stop destination to know everything about the franchise industry, which establishes authority and strength to evaluate the growth of the franchise industry.