Implementation of GST can be the game changer for organised retail: Rishab Soni
SSIPL group operates over 360 stores across 90 cities in India. Having created one of the widest networks for any retail company in the country, Rishab Soni, MD, SSIPL tells how they have accomplished scalability via franchising for SSIPL & his take on recent demonetisation.
Which all brands are there in your kitty as a Master Franchisee?
Our current portfolio of franchise retail at SSIPL includes leading international brands such as Nike, Levi’s, Clarks and Lotto.
Your brand’s outlets seem to have achieved real good performance, how you made that happened?
One of the leading reasons for the company’s growth & success has been its ability to capture the most premium retail locations, both in the high-street markets and malls nationwide. We have also made the right moves when it comes to hiring, grooming, retention of our human capital and providing them with enough career progression opportunities within the organisation.
How long has been your relationship with brand & what are your future plans?
We have been partners with Nike for over two decades and with Levi’s for over 16 years. We have always explored and added territories for our partner brands and will continue to do so in the coming times. Having partnered with some of the most regarded international brands for over two decades, SSIPL brought many international brands closer to the reach of Indian consumers. The brand has had many successful ventures, launches & strategic alliances with brands such as Lotto, Tommy Hilfiger, Aigner, h20+, Fratelli Rossetti, Salvatore Ferragamo, Walt Disney, Benetton & Clarks to name a few.
Your take on franchising & why did you choose the same to start your business?
Ahead of time, in 1998 when retail in India was largely segmented and unorganised, SSIPL ventured into organised franchise retailing with the launch of its first Nike store in New Delhi. As an organisation, we had a dream of making retail an organised business in the country and it is this vision of ours that resulted in crediting SSIPL as one of the most premium and premier franchise retail companies in India today.
A word of advice for young entrepreneurs.
For people entering the retail business, it is important to clearly identify the niche that you want to operate it, focus on that and show patience and perseverance. It’s a tough industry, but hard work and focus does pay off.
Government’s support in growing retail business in India.
The implementation of GST has the potential to become the single biggest game changer for organised retail. The most recent demonetisation move, while having negative effect in short term, will eventually help increase consumption with lower taxes and interest rates.
Where do you see SSIPL five years down the line?
We will continue to lead and elevate the marketplace as the largest integrated sportswear player in the industry and attain the pioneer position as a ‘Brand Hub’ in the world of manufacturing and retailing.