Asda to explore overseas franchising model for George
Asda confirmed today it was exploring opportunities to franchise its George at Asda range in markets overseas.
It expects to announce its first overseas franchising partner in the next few months with the intention of establishing a small number of pilot stores in the Middle East in the first half of 2012.
The exploration of franchising opportunities for one of the UK’s best-loved fashion brands is part of Asda’s long-term strategy to grow its non-food business.
George currently accounts for around half of Asda’s general merchandise sales and is already a growing global brand through Walmart stores in seven countries worldwide.
Andy Clarke, CEO and President of Asda, comments: "George is a key driver in our ambition to grow our general merchandise businesses.
“True value for money isn’t just something on the minds of UK customers; getting the best quality at affordable prices resonates with shoppers worldwide. George is already a global business and franchising is an exciting growth opportunity for us in new markets.”
A team has been established at the George base in Lutterworth to establish, build and manage franchise partnerships. George will ensure it has commitments from its franchise partners to ensure the brand is sold and merchandised based around its core values of style, quality and value.
The George International team will benefit from the vast experience the franchise partners have trading successfully with many other global apparel brands.
This pilot is already providing employment opportunities in the Midlands. The George International team is currently recruiting for more than 40 new colleagues to join them at George House.