Apparel Online India Magazine March 1st Issue 2019 | Page 48

I N T E R N AT I O N A L P R E M I U M B R A N D S C H A S I N G
I N D I A N M A R K E T. . .
heights every day. Knowing this, despite the economic slowdown,
the international brands are committing to enter India like
never before.
This has also completely changed the perspective of international
brands’ towards India. Strategically India, now, is a very
important country for most international brands. The growth is
unprecedented. But I can assure you that nobody can take this
growth as given and it doesn’t come easy. Indian customer today
is a hybrid generation. They value India’s rich cultural tradition
as much as they value the new lifestyle. And you cannot take this
customer for granted (actually, you cannot take any customer
for granted). From an international brand’s perspective, Indian
consumer, while continuing to experiment, will always come back
to product/service/experience that delivers the value of money
spent (our roots guide us to spend prudently). What delivers
success for a brand is the core brand promise, especially, quality
and innovation. Not only does the brand promise build a cult
following, it also helps retain those footfalls in stores and get them
to come back again and again.
Rajesh Jain
MD & CEO, Lacoste India
W
e often talk about international brands and their perspective
towards India as a market (after all, we love to fall in love
with international brands). But I (perhaps echoing the thought
process of millions of fellow Indians) would like to emphasise
that it is rather the other way around, i.e., it is India’s perception
toward international brands that changes international brands’
fortunes and (consequently) their perspective of India. To prove
my point, I would take a leaf out of history and would talk of
early nineties (couldn’t go beyond this as perhaps the concept of
international brands itself was rarely talked about, before that
period, in India). At that time, there were very few international
brands and fewer premium lifestyle international brands in India.
Customer base was small and was further limited to a particular
category for most of the then present international brands. This
was international brands’ perspective of India then.
The exposure to global markets and international brands created
a paradigm shift by the next decade. We suddenly became one of
the largest nations with computer literacy and started teaching
the world (I guess, assisting would be a more appropriate word)
on how to reach new heights in technological advancement and
innovation. The erstwhile most dreaded disadvantage for the
country, namely, ‘population’ actually became the most treasured
asset and prized possession, which turned the country’s ‘isolated
Third World country’ status into  a brightly shining future with
one of the youngest and educated workforce. Today the Indian
customers are global citizens with great aspirations in life.
The brand consciousness and brand affinity are touching new
48 Apparel Online India | MARCH 1-15, 2019 | www.apparelresources.com
May I also add that, it would be incorrect to consider India as
one market. This huge sub-continent is actually a mix of many
varied markets with different cultural, climatic and geographical
nuances (have you ever wondered why white has higher off take in
Chennai? Or how North responds very quickly to new categories?).
India, in most respects, does not correspond to any other market in
the world.  So what works in this unique country?
WHAT WORKS IN INDIA?
Taking quality as a given, the following factors genuinely help:
• Understanding for various regions and psychographics
• Analyse data
• Hear and act upon what the consumer says
• Ensure great customer service and relations with local touch
• Ensure distinctive Indian warmth
• Quality > Retention/Loyalty
• Retention is not isolated. The current generation is an
influencer to the next.
Even after having understood and delivered on the above, the
brands have to have a long-term goal rather than a short-term
quick money perspective.
This perhaps is the perspective of most international premium
brands on consumer side.
If we look at the challenges, there is no dearth of it. Amongst
many, the biggest challenge an international premium lifestyle
brand faces today is the scarcity of premium retail locations at
right price. The cost of retail developments is as high as any
other part of the world and yet you cannot have the international
pricing for your products (the Indian pricing of most international
apparel merchandise is one of the lowest, if not the lowest, in the
world). This hits the bottomline very hard. The rupee devaluation
hasn’t helped either. But all these challenges are part of the
game (alas!)
To summarise this, I would say that India is a great country with
huge potential for quality products, which if delivered with good
shopping experience, will continue to shower its blessings.