After experiencing a huge demand for their products in the market, Space has made its debut into franchising to set-up identical stores at highly accessible locations with good customer footfall.
THE journey of Space began in 1996 with an aim to endow the Space brand to customers with elegantly designed suitcases. By providing hassle-free wend with an inspiring journey, the company's dream is to be the best brand in luggage industry. To bridge the gaps that industry is going through, Space mainly focuses on offering constant innovation and customer satisfaction. To reach to the masses, the brand keeps on introducing new features, stunning designs and also offers a great value proposition to its customers.
In luggage industry, fashion and style has come to play a huge role, along with quality and durability. Your luggage speaks a lot about you and for this, the company has invested in a marketing strategy that aims at attracting customers. The company's marketing budget has grown significantly over the years and as percentage of sale swells up, it is committed towards investing more into the brand.
The company believes in offering an identical experience through all its outlets to customers spread across India. To ensure uniformity, the company offers an intense orientation programme where it shares its core beliefs and philosophy with its franchisees. By being sensitive to the franchisee's needs, the company intends to offer technical support through training programmes that aim at guiding the franchisee and their staff in pre-sale and post-sale activities. Presently, Space retails its products through its exclusive brand outlets, large format stores and multi-brand outlets. The company is aggressively looking at growing its footprint nationwide by seeking to partner with franchisees, who can reach customers in metros and mini-metros, with a visible presence in high streets or malls. Space is targeting to open at least 15 outlets across the country.
We have grown from strength to strength. Customers are growing rapidly and are looking for a change. Hence, we have learnt to walk faster, so that we are ahead of our competitors to meet our customer's expectations.
>>THE USP: We believe quality can meet fashion at a valuable price.
Investment: Metro: Rs 7.5 lakh
Non-metro: Rs 5.5 lakh
Area: 500 sq.ft to 800 sq.ft
Location: High street and malls
Return on Investment (RoI): NA
Expected break-even: 1 to 1.5 years
Franchise units: Four
Chief Executive Officer, SPACE
The total size of the luggage market is estimated at Rs 2,000 crore and it is growing at 25 per cent. The mid to premium segment, which is Rs 3,000 plus, holds 60 per cent of the market share.