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Aug, 06 2018

BOOSTING BRANDS IN A ‘MAJOR’ WAY

When Tushar Ved thought of turning entrepreneur, his mind raced with many ideas of which he chose to get international brands to India, writes Zarafshan Shiraz.

BOOSTING BRANDS IN A ‘MAJOR’ WAY

For Tushar Ved, whose family was engaged in business, looking for a job soon after graduation certainly wasn’t the right option. Therefore, on spotting traction in the Indian retail market, he floated an enterprise called Major Brands, which started bringing global brands to India to cater to women clientele who had a penchant for
international fashion.

FRANCHISE MODEL
The brand has more than 200 stores with eight to ten franchise partners.Talking about his franchise model, he elaborates “We have created a model for our franchising operations. It is important that all stores of any particular brand should look the same when brought together and should be a replica of what we do globally,”

“It depends on store to store, partner to partner, and location to location. The products will also depend on the rentals. If you are in a small city then your model will change. So everything will depend on the size of the store, location of the store, and then the overall model of the store,” he adds.

THE WAY FORWARD
With 200+ stores already on a roll, the brand is looking to raise the number to 500+ stores in the next 4-5 years. “Up to 20-30% of our revenue comes from online sales and our future growth will come from both the retail as well as the franchise route,” he informs. The company is also working on plans to become a distribution partner for some leading global brands.

So what does Ved feel is the mantra for success? “Our group’s success mantra is that we take the right brand to the right location and give customers the kind of service
they expect or demand,” he replies. Meanwhile, he feels that maintaining a perfect work-life balance is important because that is what keeps you energized to go the extra mile. And for that he credits his wife for taking the right initiatives.

“She plans vacations to places where my phone will have no network connectivity,” he says with a laugh. On a more serious note, he says he has some tips for those looking at entering this industry. “It is an intensely competitive sector. Therefore, it is important to focus on your USP. Always look for a gap in the industry and that can be your entry gate. Look out for what customers want and nobody is selling,” he says.

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