HERALD: As a company that has been in the business for over a hundred years, what are the changes you have witnessed in terms of purchase patterns?

SIDDHANT BHARNE: Customer’s have evolved a lot over the years and they have complete knowledge of the products that they buy. Customer of today is well aware of the latest fashions and trends prevailing in the west. We have to keep changing our merchandise with the latest trends if we have to survive in the current competitive market.

HERALD: What prompted this re-branding exercise?

SB: BFL as we say is Goa’s first and only fast fashion Store. There is no store in Goa stocking such merchandise. We have travelled across the world to understand different store concepts of a fast fashion store and implemented it in our store at Caculo Mall. We have re-branded it as BFL so that we appeal more to the youth. Our target demographic would be ages from 18 to 35 years. The special feature would be that we would keep getting in new merchandise every fortnight, so customers have something to keep looking for.

HERALD: Why is it restricted to the outlet at Caculo mall?

SB: BFL – Fashion Forward would be restricted to Caculo Mall in Goa. All other store locations namely M G Road, Panjim, Mapusa, Margao, Sanquelim would be branded as Bharne and would be catering to all age groups. Bharne as a brand has lot of goodwill and love in the hearts of Goan’s so we would want to keep it that way.

HERALD: What is your assessment of the retail climate in the State at present?

SB: Retail market is improving now and we are expecting a rocking season ahead.

HERALD: How different is the tier 2 and 3 cities from the metros in terms of consumption patterns?

SB: Tier 2 Tier 3 cities consumption works in a completely different way than the metros. The customers in metros are exposed to too many retail doors. All national and international brands have their exclusive outlets in the metros, the supply is higher than demand due to which there is thick competition. Tier 2 cities would be our target where there is lot of potential for fast fashion stores.

HERALD: What are your plans in the next five years?

SB: We want to take Bharne and BFL both the brands PAN-India. Next five years our target would be to reach a total of 25 stores including neighboring states like Maharashtra and Karnataka.

HERALD: How do you intend to fund your expansion plans?

SB: We would be looking for investors soon in our brand for bigger expansion plans.