Bulchee: Embarking on the Exclusive Retail

The premium accessories brand Bulchee from Altas brands, is all set to open its own branded retail stores. In an interview, Ramesh Bulchandani, MD, Atlas, talks about the future plans of the company. 

Shubhra Saini (SS): How big is the branded accessory market in India?  

Ramesh Bulchandani (RB): Accessory market in India comprises of watches, leather bags, jewellery, perfumes and etc. In total it is quite a big market, it is 4,000 crore market in total according to McKenzie 2009 report. 

SS: Please brief us about your product portfolio?

RB: Existing portfolio of Bulchee consists of cufflinks, ties, wallet and belts for men. We make clutches, handbags and small wallets, scarves and belts for women. We have watch brands for both women and men. This watch collection is available in more than 2,000 outlets across India.

SS: What is the USP of Bulchee?

RB: Our products are exclusive and classic. They are astonishingly priced, and are extremely contemporary and durable also.  

SS: Do you think the price is the major attraction factor?

RB: Our price addresses the real need of Indian consumer; the reason for our success is that we are giving world-class experience to our customers at very affordable prices. 

SS: What is Bulchee’s market share?

RB: 80per cent of the market belongs to the unorganised players and they are our biggest competitors. If this sector gets more organised then market will be more open for the organised players. We have 50 per cent of the market share in our category in organised accessory business. 

SS: You are mainly present in MBO’s is there any marketing strategy behind it?

RB: Opportunity to sell through organised is more conventional through MBO’s. Now that mall culture is coming up, it is a better strategy to retail through MBO’s. We are coming up with EBO’s but we are focusing more to sell through MBO’s.  

SS: Tell us about your expansion plans.

RB: We have five stores at present and we are planning to open 30 stores by next year. These stores are franchised but managed through our company. In certain parts of India, where we don’t understand market needs that well; we are likely to grow through franchising route. 

SS: What kind of training and support does a franchisee get after partnering with your company? 

RB: Our entire business model is given to all the franchisees. We help them in planning their supply chain, visual merchandising, marketing and staff management.  

SS: How do you promote your brand?

RB: We believe in the power of our brand. Lately we have done some CSR activities. We believe more in BTL (Below The Line) activity. Retail industry in context of accessory market is expected to grow 30 per cent for the next 10 years. So we have a good future ahead.