Retail chain stakes new territory
The Melbourne-headquartered chain has earmarked around $10 million for the project, which will result in it more than tripling its retail portfolio.
The plans, revealed exclusively to Ragtrader, will also see it alter its position in the market supported by a new logo and store designs and dramatically beef up the number and type of brands it carries as well as the number of staff who sell them.
While details are scarce, it is understood an extensive marketing and public relations campaign - involving alliances with "major" celebrities - will be released to coincide with the changes.
Kicking into effect later this month with the opening of its ninth and tenth store in Elsternwick and Sydney airport respectively, the company plans to open a further 19 new company stores and 18 franchise stores by December next year.
Global brands managing director Leon Siebel said the changes, funded internally, had been driven by consumer demand.
"We do quite a lot of market research [but] also listen to our customers. We have seen that through the changes in the current retail market - [for example] outlet shopping malls, clearance sales, cheap vertical retailers and online retail - that there is a void left for a multi-brand retail chain that is still value driven."
Siebel said the retailer had also secured exclusive diffusion brands from many of its 57 suppliers - which include Grab, Wish, Mavi, Matalicus, Mink Pink, Olive and Lacoste - which would help change what he claimed was misleading consumer perception of the 12-year-old company.
It was no longer just about "price, price, price", he said.
Moving into carrying full price merchandise, Siebel said Global Rags had elected to cap the price for each category so [customers] will only pay up to a certain amount for any particular item.
"We see ourselves as the alternative in branded retail - an option B if you like. We want to really expand on this and cement the concept in Australia, there is new choices for consumers and we are going to drive this hard over the next three years.
"We love what we do and things have only just begun for us."