Oxford Limited is a wholly owned subsidiary of the University of Oxford, UK; which is an internationally recognised company that manages and develops retail and brand licensing programmes of the University. Hardik Vasa, Partner, Vasa International- Master Licensee of Oxford, in a rendezvous unravels the concept of licensing and how the brand envisions tapping the stationery market in India which is expected to grow at an annual rate of 25% till 2017 via franchising and distribution.
What prompted you to associate with Oxford Stationery?
No product sells well if the brand is not connected. Oxford, already a well known brand and globally renowned for education and stationery was the best choice for the category.
How has been your entrepreneurial journey so far?
It has been fairly good. Every new brand has to struggle as far as placement is concerned. Specially, if good quality and products different from the ones already present are to be placed. But after an initial struggle, quality is something one remembers.
Throw light on your franchise model.
Franchise model offered by us is purely Franchisee Owned Franchisee Operated (FOFO) business model. Each of the stores shall be run with FOFO expertise. This model is extensively used to bundle prime locations, moderate locations and emerging locations and helps in creating better market penetration.
Requisites for becoming a franchisee of Oxford Stationery…
A good location, which has a good footfall and a minimum investment of Rs 25 lakh are the basic requisites. One should have an intention to grow by developing a franchise network for retailing and distribution of its products. One should entertain designer stationery offering also which is very compelling. Generating capital through franchise acquisition further facilitates the brand.
How is franchising different from licensing?
Franchising is the practice of using another firm's successful business model, a concept that is growing rapidly across the world. However, licensing refers to the permission as well as the document memorialising that permission.
Your future plans?
We are the Master Licensee for nine countries including India, Nepal, Sri Lanka, Bangladesh, Mauritius, Maldives, Seychelles and Réunion. So, we are looking to growing the brand presence in all these nine countries.