Recently, leading premium socks brand Balenzia has joined forces with World Wide Fund for Nature-India (WWF India) to unveil an exclusive line of products just in time for Valentine's Day. The purpose behind this venture is not only to offer trendy product line but also to raise awareness and funds for the conservation of animals. The brand is now exploring sports licensing category to cater its increasing consumer base.
Balenzia, a frontrunner in the sock industry, boasts access to over 80 licensed properties, including iconic names such as DC Comics, Warner Brothers, HBO, Cartoon Network, Disney, Marvel, and Playboy. With 19 stores already established across India, the brand plans to expand with three more stores in the current quarter. The licensed products currently contribute 30 percent to the brand's revenue, with Warner Bros Justice League collection standing out as a bestseller.
Contributing to Nature
Originally an online brand, Balenzia's socks business now constitutes 98 percent of its revenue. The brand's offline operations, with a current contribution of 33 percent to the revenue, are set to increase up to 50 percent with the expansion of retail stores.
Rahul Gupta, Founder and Director of Balenzia, expressed “We're living in a time where the youth of India aren't just about making fashion statements but are all-in for choices that bring about a positive impact. And we at Balenzia aren't just about crafting top-notch socks; we've taken it upon ourselves to resonate with the vibes of the Indian youth, helping them express themselves and make their fashion choices count for something bigger. Launched just around Valentine's Day, the #Love4Wild collection taps into the universal themes of love and care but shifts the focus towards a deep affection for wildlife and nature.”
Gupta emphasized Balenzia's dedication to wildlife conservation, noting that the collaboration with WWF India was a natural choice. A portion of the sales revenue from the fashionable socks collection will contribute to WWF India's initiatives.
Reflecting on the brand's licensing business and its expansion plans, Gupta shared insights into their journey. "Our first license was with Warner Bros, and over the past few years, we have worked with 80 licensed brands," he stated. Warner Bros remains a key licensor, providing access to properties like Justice League, Harry Potter, Rick and Morty, Powerpuff Girls, Game of Thrones, among others.”
Gupta also highlighted the significance of the licensed product market in India, stating, "India was starving for licensed products for the socks category, and we have received a phenomenal response for our products. We want to be a brand that helps people express themselves, and that's why we have taken so many licenses."
He further said, “We are definitely looking forward to expand our portfolio with sports licensed products. We are in talks with couple of people working closely in this domain.”
Balenzia's collaboration with WWF India not only brings forth a stylish Valentine's Day collection but also underscores the brand's commitment to wildlife conservation and positive societal impact.