Gregg Sedgwick outlines g-1 vision for 100 stores
01.04.10
At a recent management group meeting, CEO Gregg Sedgwick outlined his vision for G-1 to achieve 100 stores by 2013. The retail gallery group has achieved year on year growth since its beginnings in Dubai, in 2005.
In 2009, the Company launched its franchise arm and it has already sold its first franchise store in Qatar and has, according to Sedgwick, discussions underway for further franchises in 6 new territories. Timing, funding and market characteristics were cited as the key criteria for growing the business.
"We will open some of our own stores in important locations such as London, California and Hong Kong. Other stores will be franchised, often within the same City." At the meeting, Sedgwick spoke of year on year growth as a phenomenal achievement given the global economic circumstances and the difficulties experienced in Dubai, g-1's home City. Sedgwick added, "We are not in a hurry to raise money - first, we will achieve certain financial milestones and open a few more stores to demonstrate proof of concept in new territories."
Recognizing the lack of a branded gallery group within the retail context, Sedgwick started G-1 (Gallery One) with one small store in Souk Madinat Jumeirah, Dubai. Since then he has set out on a path of 'democratizing art' - making accessible a previously exclusive genre. The galleries are placed in premium, high footfall locations and, unlike the traditional gallery format, are welcoming of consumers in general, maintaining a mantra of 'art for all'. At the same meeting, he stated, "There is no reason why every major City cannot have at least one g-1 - we have 5 in Dubai and they are all successful."
