Giordano Report

Giordano Report

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  Submitted By:- Ata ulHassnain FA12-MBT-015 Ahsan Ali FA12-MBT-039 Asad Raza FA12-MBT-011 Fraz Asmat FA12-MBT-027 Submitted To:- Sir Kashif Luqman 04th Oct, 2013
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  History:- Jimmy Lai wasborn into poverty in mainland China's Guangdong Province in 1948. At the age of 12 Lai was smuggled by his family into Hong Kong which at the time was still outside Chinese Communists' control. Through relatives Lai easily managed to ascertain work at a local textile factory and by the age of twenty had succeeded in becoming the company's General Manager. With his first end of year bonus of $1000, along with all his life savings, Lai decided to trade on the Hong Kong stock exchange. The gamble, although risky proved fortuitous and Lai turned his measly original $3000 investment into approximately $40,000 dollars. With that money Lai bought out the owners of the bankrupt garment company of Comitex in 1975 and began manufacturing sweaters. The company was an overnight success and had exports to major American retail brands of J.C. Penney, Montgomery Ward and several others. It was during this time that Lai made several trips to the United States. He was then exposed to many western retail formats which inspired him to get into the retail market himself. In 1981 Lai founded Giordano (named after a favourite New York restaurant) and opened several stores across Hong Kong.
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  Vision:- “Giordano vision isto be the best and the biggest world brand in apparel retailing.” Mission:- “To make people look good and feel great”. Description:- Giordano is the company that changed the rules of clothes retailing in the fast growing markets around Hong Kong, China, Malaysia, and Singapore. Before Giordano gave good quality and good service, cheaper clothes piled high and sold by sales assistants. Jimmy Lai founder and chief executive of Giordano changed all that when he saw that low level of service offered an opportunity in the casual clothes market and they can give value and service at low price and get better benefits. So he raised the wages of his sales people between 30 to 40 percent and allocates a big brother or big sister from among them to develop their quality skills. They trained the staff to talk to customers and seek their opinion on product and try to seek what are their wants and needs. This information urgently gives feedback to company designers and due to this urgent feedback company knows the wants and needs of the customer which is very beneficial for the Giordano.
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  Giordano operations principalsare summarized in its “Q.K.I.S.S” list which is given below.  Quality  Knowledge  Innovation  Simplicity  Service