The Right Click

India is developing as a mature market in fashion. How do you compare this with the other markets?

From the consumer profiles to buying behaviour to the demand and supply ratio, every facet has seen a major development in these years, leading to a tremendous increase of India’s share in global consumption. Market is just at par with international fashion trend cycle. Lots of new brands have entered India and launch of these brands is opening up the market with their USPs and offerings. India is a diverse country and a melting pot of cultures. The younger generation is getting inclined towards vibrant brands like Benetton due to its wide brand portfolio. The new age are advanced, well-travelled, well-informed and have a great taste.

What are the factors propelling the industry’s growth? What are the trends you have been witnessing?

The rise of e-shopping and growth of off-price retailing are mega-trends reshaping the retail industry. Internet sales are booming at the cost of direct store purchases. Young customers are prioritizing the purchase of new technology over other goods, and the unseasonably warm weather has left many winter coats, boots, and sweaters on retailers’ shelves awaiting even deeper markdowns.

Do you feel franchise is the right model for expansion?

We prefer the franchise model but in cases where there is a strong sub-franchise partner, we consider the sub-franchise option.

Have you introduced any interesting concept at your store recently?

We have introduced ‘On Canvas’ store concept, the store that transforms. On Canvas is derived from the traditional concept of a loom. It serves light, simple but solid and invisible structure, around which seasons, collections, colours and materials are created. Symbolizing tradition and craftsmanship, and also emblematic of innovation, the ‘loom’ enables all kinds of transformation within the store. Materials, canvases and spaces alter and change, creating infinite solutions.

What are your growth plans?

We are present across 800-plus doors and 350-plus EBOs. In additions to A-plus cities, today the brand is visible in tier 2, 3 & 4. Fast retail expansion and reaching to tier 2 & 3, applying multichannel business model and early adaptation of e-commerce have been extremely instrumental in the process. We select our stores carefully and at the best locations and provide unmatched retail experience to customers through immaculate visual merchandising. We are soon introducing a product diversification strategy.

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