Hotline: 1800 102 2007
X
Search Business Opportunities
Advisory 2015-08-03

How can entrepreneurs have direct Access(ories) to profits?

Accessories complement the attire. But in the midst of need-based segments like apparel, food and grocery, automobiles; accessories have the risk of being sidelined. Here we have experts take on how accessories market can grow via penetration within the s

By Feature Writer
How can entrepreneurs have direct Access(ories) to profits?

Brand awareness is growing in small cities and so is the disposable income. The lifestyle of people is improving and which is the most significant factor boosting the accessory market accessory market can in smaller towns in India. Harkirat Singh, MD, Woodland India says, “The so-called small towns are no more smaller; rather have huge potential. In the last four to five years, we have grown exponentially in smaller towns and have got a great response. Currently, at least 45% of our stores are in non-metros. However, there are few locations that might not be viable as a virgin territory at this moment and time. For places like these, we are open to invite franchise stores. We have just opted for this route to strengthen reach and address ever-growing demand.” Baggit also unfolded its plans to spread wings across tier II and III cities, which it intends doing via facilitating more franchise stores across India.

The booming North East region

North East region accounts for diversifying growth opportunities for entrepreneurs as it been declared as Special Economic Zone (SEZ) by the government. For Woodland, North East is a world in itself. “We have seen a lot of demand from that market and have also supplemented the same through a series of Above The Line (ATL) and Below The Line (BTL) activations that had got us recognition and encouraging response. At present, Woodland has a total of 60 stores across Eastern India and we aim to make it 100 in the next one or two years,” opines Harkirat Singh of Woodland India. Baggit is also eyeing expansion in this zone. Nina Lekhi, Founder and Owner, Baggit says, “We are opening 12 to 15 stores this year in the North–East region. These stores will be set up in high street, centres and malls in tier I and II cities like Bhubaneswar and Kolkata. Average area required to open each store will be of 200-250 sq. ft with an investment of Rs 50 lakh per store.”

Brand extension as a means to grow

Not limiting to one particular commodity, franchisors are seeking diversification to generate opportunity for the investors and expand customer base at the same time. Dilip Kapur, President, Hidesign says, “We are looking at brand extensions such as footwear, pens and stationery that appeal to the same consumer base. We are also looking to expand our airport stores and seeking international expansion majorly in the USA, Gulf and Singapore.”

Growing demand for travel gear

A recently released study shows that adventure travel has been growing 65% year over year since 2009 in India. Presently, it is a $263 billion industry and is still growing. “The growing trend in this market has created a platform for brands like us to experiment with new launches and reproduce gears, products and accessories to complement and enhance the travellers’ outdoor experience,” adds Harkirat Singh of Woodland India.

Comment
satyajit majhi : 17, Mar 2015 at 02:35 PM
good
Sunil K : 21, Mar 2015 at 12:20 PM
Please guide me how to start a business / Franchise for same filed.
sultan : 30, Mar 2015 at 01:06 PM
Please guide me, how much investment and space requirement.
Reena Bhatia : 02, Apr 2015 at 01:58 PM
please send me the details of the business . I m interested in it .
rupak : 03, Apr 2015 at 03:37 PM
Please guide me, how much investment and space requirement.
rashmi : 12, May 2015 at 10:04 AM
please email details. is this an online business? please share investment details.
Sunil Kumar : 15, Aug 2015 at 02:48 PM
Plz guide me how i can start this and what kind of investment with ROI etc...
Related opportunities
  • Florists
    About Us: Casafleur is a popular florist brand from Delhi that..
    Locations looking for expansion New Delhi
    Establishment year 2000
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Delhi New Delhi
  • Quick Service Restaurants
    Company Profile  Ping’s Cafe Orient is a healthy Asian street food..
    Locations looking for expansion Delhi
    Establishment year 2016
    Franchising Launch Date 2018
    Investment size Rs. 2 Cr. - 5 Cr
    Space required 1750
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New Delhi Delhi
  • Quick Service Restaurants
    Kathi Junction – brings the golden opportunity to start your..
    Locations looking for expansion New Delhi
    Establishment year 2009
    Franchising Launch Date 2009
    Investment size Rs. 5lac - 10lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater NEW DELHI New Delhi
  • Bakery & Confectionary
    About Us: Millie's Cookies is an international chain of small format retail..
    Locations looking for expansion Delhi
    Establishment year 1985
    Franchising Launch Date 2018
    Investment size Rs. 30lac - 50lac
    Space required 250
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities
More Stories

Free Advice - Ask Our Experts