From Retail Store to Padmashree Nominee that’s the Story of Dr.Jay Patadiaa from ‘The MBO Store” (The Multi Brand Outlet) is known as the discount store, offering customers a wide range of products with discounts ranging from 25% right up to 60% – throughout the year. Yes you read it right, discounts available for 365 Days on top brands, exclusive garments & no second’s stock.
The store retails brands like Levi’s, Armani Exchange, Reebok, Wert, Lee Cooper, Pepe Jeans, Spykar, Wrangler, Lee, Arrow, One Percent Jeans and more.
Apart from Indian brands the store also sources products from global markets, most of which are unavailable in the country. The working has yet not changed, yet 12 hours a day continues.When passion is on thrones Reasons’ r out of doors. 5 doctorates 200 plus records Padmashree nominee .
The story just continues of awards, records which includes State, National, International and a World Records holder With current achievement in Dadasaheb Phalke Television Award and IIFA too Representing Trade and retail Representing India in many States and Internationally too. The journey is just 25 years old with the start of a retail store on Electronics and then in Clothing.
Now with 3 retail Store’s Online business and started massive wholesale business pan India of clothing and chairs. The ups and downs of business have just been a part of the routine activity.
As he says, at a given point of time’ he was ready to sell his business. But as always the better half who yet stands as a strong pillar in his life made him get up and start the show again that’s where the company started again from scratch and achievements followed.,
The punch line was ‘Go get going, discipline, focus on goals and achieve it.The next ‘Big thing up is ‘Ladies Garments getting introduced in the MBO Store’s. Planning to launch in ‘Big way’. Let’s get started With taking business International that’s the next plan for 3 years What keeps one going, comes with the same reason that was common in 1999.
The journey that’ started with working under my Father in his Electronics business.
Started not as a Boss’s son but as a helper.Cleaning floors, TV, Fridges, going for deliveries of goods. As a teenager loved all’ what I did then just learned how to do sales then promoted to do sales,then worked there for 2 years Including doing my studies in Commerce from Mithibai College in Parle, after that I was being shifted with my cousin in Parel where currently the head office and retail store of the MBO Store’s. MBOs drive more footfalls as compared to shoppes or outlets as they display a mixed bag of brands at varied price points, while shoppes or outlets s display only single brand’s merchandise.
At MBOs, customers get confused seeing an extensive variety of brands and thereby making it difficult for them to pick the right brand, whereas shoppes or outlets are meant for loyal customers only. Sales at MBOs are higher than at shoppes or outlets.
Also, the franchisor can save on store rentals. MBO retailing via franchising is brimming with a horde of opportunities as the concept is tremendously in rage among sectors starting from fashion clothing, accessories, jewellery, eyewear, watches, footwear and consumer electronics mobiles and automobiles.
Be it a brick and mortar space or e-commerce portals, the MBO format is flooded with a bag full of opportunities. Currently Titan, Helios, Raymond, Titan Eye+, Mahindra First Choice, Carnation Auto, Kapsons, Van Heusen, The Mobile Store, Skechers, Sangeetha Mobiles, Promart, Urban Shore, Kimaya
Kitsch, Siyaram’s ,and Planet Fashion are operating via the MBO format As discerning customers’ hunger for picking from wider options is indeed becoming a never-ending process, the trend of MBO franchising is steadily catching up in India.
Like international markets, the concept is rapidly growing in India too, considering the changing lifestyle and brand awareness among all the strata of society.
Leaving the exclusive brand outlet (EBO) concept behind, MBO franchising has now cemented its ground in busy locations such as high-streets and malls. When it comes to thriving brand sales, brands hop on to new boulevards or newer retail distribution formats to pull the customers to their stores.
As price sensitivity is no longer persistent in customers’ mindset, brands are now going gung ho about pushing sales more in a MBO format and thereby giving a touch edge to competitors retailing via EBOs.
Nowadays, MBO franchising has started gaining ground as consumers like to pick from a wide option of brands with varied price points.
Whereas in case of EBOs, only one brand’s offerings are retailed and it’s meant for only the brand’s loyal customers who love to buy from that particular store only.
In a nutshell, MBO franchising is the safest route for spreading wings rapidly. MBOs attract more customers as they are able to see through a mixed bag of merchandise of each brand displayed under one roof.
It’s indeed a feasible investment option for franchisors who wish to scale up their business expansion strategy. We spoke to Jay ,thats Jitesh Patadia,he prides in calling him CCE / Partner at THE MBO STORES at Mumbai.
Courtesy : In Conversation with Padmashree Nominee Dr.Jay Patadiaa Owner, Propreitor and Social worker at MBO, Mumbai, India