Known for the portrayal of modern women, Femina magazine has positioned FLAUNT as a ‘GO TO’ fashion and lifestyle brand that symbolises dynamism and aspiration of the urbane woman who is willing to take risk and satiate her fashion and lifestyle needs.
Enthralled by the successful stint of the fashion collection - Femina FLAUNT, BCCL has set the plans rolling to expand the horizons by marking foray into beauty industry. In a conversation with Retailer, Sandeep Dahiya, Director & Business Head – Brand Extensions, BCCL divulged the details about brand’s strategy to foray in the beauty industry and portfolio of ideal licensee for the same.
How has been the response for licensing of Femina FLAUNT?
The response to Femina FLAUNT range has been beyond our own expectations. And because of the great response, the range has expanded its presence from 18 Shoppers Stop stores in January this year, to close to 40 stores already. I think the range has connected really well with today’s fashion-aware women, who like to step out in style, every time.
What next category are you eyeing at for brand extension?
With Femina FLAUNT we’re currently exploring Eyewear, active-wear and fragrances. However, the most critical category that we’re really excited about, and one that holds immense opportunity is beauty services. We’re exploring various partnership opportunities for Femina FLAUNT salon and fashion studio.
Where do beauty services as a category fit into your plans for Femina FLAUNT?
Beauty services are one of the two core pillars in Femina FLAUNT's growth blueprint. The other being 'fashion & lifestyle'. We expect 80 per cent of the revenues to come from these two core categories. Revenue opportunity aside, the beauty services as a category is also of immense strategic importance, in our plans for Femina FLAUNT to play a significant role in today's fashion-aware woman's life.
What is the ideal portfolio of licensee in this case?
Getting the right partner on board is the most important thing in this business. We're looking for a partner who believes in the brand as much, to begin with and has a long-term perspective on the category and the opportunity that it offers. We're hoping to find a partner with the right balance of pragmatic approach and innovative thinking, a partner who could create sustainable business model with a scope to scale-up at the right time.
Beauty service is still quite a nascent category in India and therefore the opportunity is immense. With the right partner, who complements our strengths, we're confident that Femina FLAUNT could redefine this space.
What would be the nature of alliance and revenue sharing?
We're looking at a unique hybrid model that presents equal opportunity of growth and financial returns for both partners - a model where our core strengths play a significant role in its sustenance and scalability. We already explored a similar model in a different category and it is working quite well. It would definitely be a revenue-share model, but too early to spell out details.