Archies: The Way Indians Greet |
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EXCERPTS Contd...Rationalization Gone Wrong?THE DISTRIBUTION REVAMP
The Retail RevampIn 2001, Archies began an 'exclusivity drive,' by way of which all existing Archies Gallery franchisees were asked to keep only Archies range of products. If they did not want to be an exclusive outlet, they were given the option of converting into an Archies Paper Rose Shoppe on a 'non-exclusive' basis.
The Future - Shifting FocusThe Moolchandanis believed that the distribution and retail revamp exercises will yield positive results after the transition phase. Archies decided to focus more on the gifts segment, as it believed the segment was under-exploited. The company planned to develop and introduce new lines in the gift segment including higher end items, which were lacking in the present setup. The idea was to make an Archies gallery a 'one stop gift shop' for people from all walks of life. The company had already begun importing high-end gift articles such as crystal, soft toys and Feng Shui items from China, Hong Kong and Korea in addition to outsourcing from local vendors... Exhibits
Exhibit I: Archies - Shareholding Pattern |
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