Bennett, Coleman & Co Ltd has acquired a stake in G J Free Fashions, a subsidiary of Gini & Jony Ltd
Online PR News – 17-July-2009 – – Bennett, Coleman & Co. Ltd. (BCCL) has acquired a stake in G J Free Fashions (GJFFL), a subsidiary of Gini and Jony Limited- one of India’s leading garment manufacturers, retailers & distributors of premium lifestyle kidswear.
The investment is the result of the efforts by Times Private Treaties, the innovative venture from the Bennett, Coleman & Co. Ltd. (BCCL) Group, which already has investments in more than 200 companies across various sectors.
The Times Private Treaties business model eases the cash flow of a company so that resources set aside for brand development activities can be used toward business growth & expansion.
“Gini & Jony” business activities primarily includes designing, manufacturing, branding and distribution of garments and lifestyle accessories for kids, under various brands through exclusive brand outlets, large format stores, dealer distributor network and factory sale outlets.
Brand “Gini & Jony” is one of the leading kidswear brands in the country. Prakash Lakhani, CMD, GJFFL said, “The association with BCCL is a strong step forward in creating the best foothold. We look forward to carve a space for Gini & Jony among the best retailers for kids apparel shopping in the country”.
The Lakhani Brothers owned Gini & Jony Freedom Fashions is a lifestyle store that retails not only its own brand but about ten more brand in the kids wear category. The store retails other kids brands like Levis Sykes Junior, Gini and Jony, United Colors of Benetton, GJ Jeans, Ben 10, Crocs and Portico.
"GLFFL understands the entire value chain, starting off as manufacturers of premium lifestyle kidswear and, thereafter, building on their appreciation of marketing the brands to commence retail operations," said Karthik Reddy, Vice President, Times Private Treaties. The Times Private Treaties business model is designed to share risk, accelerate growth and create value for the brand in the long term.
Times Private Treaties expects the children's wear segment to grow dramatically. Branded children’s apparel has been undergoing huge transformation with children demonstrating distinct brand preferences, exercising influence on buying decisions with greater exposure to global brands and being specifically addressed by television channels that are purely focused on catering to children.
The market has evolved from parents’ buying generic apparel for kids to children making choices as a result of exposure to global and Indian brands. Estimates of kidswear market size in India put the children’s branded segment in excess of Rs 3,000 crore, out of a total market size of Rs 13,000 crore. With increasing brand awareness and modern retail formats such as Gini and Jony, the branded kids wear segment has come into its own and likely to see strong growth in the near future.
This is particularly manifest in the sheer range of clothes, designs, styles in kids’ apparel ranging from the classical shorts, shirts and skirts to a whole medley of designs and styles to rival clothes for adults. The market, however, continues to operate on the classical formats for buying children’s clothes: reasonably priced if fashionable given that kids outgrow their clothes very rapidly.
According to Mr. Reddy, “The challenge of addressing the untapped potential of children’s apparel is manifold but GLFFL has shown that its experience and insight makes for a strong growth story.”