Swanky 3,000-odd square foot stores, often housed in upmarket neighbourhoods in big Indian metros; bright, colourful interiors, and even brighter displays. Godrej’s Nature’s Basket (GNB) stores, placed in literal glasshouses, famously catered to the affluent with its gourmet food offerings.
Until it didn’t.
Today, one such outlet located in an upmarket residential locality in Mumbai has reason to be upset. Its average sales per month has dropped by at least Rs 2-3 lakh ($2,900-4,350) compared to three years ago. It’s no coincidence that, in this time, GNB has also reinvented itself with ‘GNB Refresh 2020’—a plan to turn the company around, growing sales by 3X to Rs 1,000 crore ($144 million) by March 2020.