Incorporated in 1978, Siyaram Silk Mills is gaining strength in the textile industry by adopting omnichannel retail strategies. The textile brand recorded Rs 2300 crore in revenue in 2023 and aims to achieve double-digit growth in FY24-25.
In 2015, Siyaram Silk Mills acquired ownership rights to manufacture and market the Italian lifestyle brand CADINI in India, Sri Lanka, and a few other countries in West Asia. CADINI launched its first flagship store in an affluent neighborhood of Colaba in Mumbai. Siyaram's has sub-brands such as Oxemberg, J. Hampstead, Mozzo, Inspiro, and Tessio that cater to a diverse audience.
Discussing CADINI's brand journey in India, Prashant Awasthi, Assistant Vice President at Siyaram's, stated, "We have a comprehensive brand portfolio suiting multiple income groups. For us, CADINI is a brand as popular and famous as other Italian brands like Gucci or Armani. The last three years for CADINI have been phenomenal, showing triple-digit growth year over year. This is one of the best-performing brands for the overall group and has yielded us good results."
Elaborating on the brand licensing market in India, Awasthi said, "Brand licensing is a growing trend in India, and we have observed that licensing of characters is mostly done by brands newer to the apparel space. In the future, depending on consumer insights, we can definitely opt for buying licenses to connect with Gen Zs and millennials. But for now, we are promoting brands within our overall portfolios."
With an aggressive approach to cater to Gen Zs and millennials, Siyaram's has aggressively tailored its marketing strategies. The brand is no longer limited to traditional media but has recently shown a tremendous presence on digital media platforms, especially on OTT platforms during the IPL.
Awasthi said, "Oxemberg is a brand that caters to young consumers, and we have also changed our communication and messaging to connect with the young."