As part of its expansion drive, Choice International Group (CIG), manufacturers of GREE and Lontor products has unveiled plan to reward distributors and retail dealers of the products across the country.
Through this initiative, the company is targeting 300 brand shops in Nigeria for the GREE and Lontor products through a retail franchise partnership with prospective investors.
Speaking during a media briefing, the Chairman CIG Motors, Chief Diana Chen, said: “From inception in the year 2000, CIG Motors has actively explored the international market and has opened more than 20 brand shops in Nigeria in the last 18 months and now set to open an additional 300.”
She said GREE leads in air conditioners, while Lontor is a renowned brand in household electrical appliances around the world.
She said the process would require investors to secure a store space to join.
“This requires the investor to simply secure a store size of 120-150sqm at any choice location, shopping mall, plazas, high streets and even residential neighbourhoods. Our Business Development partners, 3rdRetail Africa can assist with identifying a perfect location in all towns across Nigeria,” she added.
The company said it is offering two business models namely regional logistics centres and Gree & Lontor brand shops.
Speaking on the regional logistics centre model, the lead for Gree in Nigeria, Chibuzor Ogunka, said there are only six of such opportunities which are spread across the geopolitical zones, particularly in Abuja, Lagos, Port Harcourt, Kano, Onitsha, and Jos.
He said a capital outlay of $1 million was required with a return on investment (ROI) of at least 35 percent per annum.
“There are only six such opportunities across the geopolitical zones of the country. This investor will become the mega distributor partner of the Gree & Lontor brand and service a network of brand shops. The capital outlay for this model is $1 million,” he said.
Ogunka explained that the second model, Gree & Lontor brand shops, involves the creation of retail franchise stores with an investment of N20 million and ROI of about 35 percent.
“This requires the investor to simply secure a store size of 120-150sqm at any location, shopping mall, plazas, high streets and even residential neighbourhoods,” he said.
“The initial capital outlay is N20 million. Gree & Lontor will provide marketing, sales and operations support through our highly experienced and innovative in house teams working closely with each investor or franchisee.”
On his part, the Managing Partner, CIG in Africa, said the investment opportunity was conceived after 18 months of study to establish trends.
He said the first phase will be the launch of 250 franchise brand shops while 600 shops will be established on a long term across Nigeria.
“The CIG has built these brands into a world-class electronic retail chain in Nigeria opening no less than 20 brand shops in Lagos and Ibadan over the last 18 months.
“With over 100 unique products on display, the Gree & Lontor retail brand shops have recorded remarkable turnover and profitability over the past year.
“It is the decision of the company to open up these opportunities to the investing public through a franchise retail partnership where investors can own any of the six regional logistics centres or the Gree & Lontor brand shops in viable locations across the states of Nigeria,” he added.
