ORRA plans to open 10 franchise stores this fiscal | Franchise Mart

ORRA plans to open 10 franchise stores this fiscal



Breaking News India,Latest Franchise News India,ORRA plans to open 10 franchise stores this fiscal,CEO and Founder Director of ORRA, Vijay Jain, told India retailing Bureau on the sidelines of India Fashion Forum 2017, “We are encouraging people to come in to the stores as it is a high value proposition and if that piece is available in any part of the country then we will make sure that it comes to the consumer through our Omnichannel approach.

”He further added, “Currently, online contributes approximately 5 per cent to the overall revenue but I think it will jump dramatically because we are defining online not as product-centric place from where we only deliver, we are providing an experience where even if a consumer books the jewellery online, he/she can come to the store and pick it up. So we are looking at a 360 degree Omnichannel approach.”

At present, ORRA is delivering to all pincodes in the country where couriers reach, with focus being on areas where their own stores are present.

Explaining this, Jain said, “So, there is organic traffic – brought about by a process of business expansion by increased output, customer base expansion, or new product development. Then there is inorganic growth – where the company makes efforts to get consumer traction. However, instead of focusing online, we prefer to focus on our stores in high streets because the ROI there is much higher for us, simply because high value transaction consumers generally walk in to the store to experience the products. Online stores are more for discovery. Fulfillment is the consumer’s choice – can be online or offline.”

The brand also retails through marketplace Amazon and has no plans to explore the opportunities with other e-commerce players.

Expansion Plans

ORRA has presence is 24 cities and retails through 33 EBOs apart from online presence. On an average the store size is around 1,200 – 1,500 sq.ft sized stores but in some places like South Ex and Noida, ORRA has three-level stores.

“Most of our stores are standalone high street stores and now we are moving into mall stores as well. We have already got 4-5 mall stores but in the present situation, we are looking forward to open more 8-10 ten stores in the mall in the current year,” revealed Jain.

He further added, “We are also looking at franchise-led growth. We are also putting forward funding model so that it just become plug and play and by July-August, we will be able to roll out in a full-fledged manner.”

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  1. sounds good, how to buy this franchise??