From a yarn and fabric centric organisation, National Textiles Corporation (NTC) is all set to create a retail mark in the textile segment. It has launched a retail chain called ‘Indian Republic’ and is planning to take a franchise route to expand. Aloke Banerjee, Director – Marketing, NTC, shares the way forward.
What’s the rationale behind this move?
The rationale behind this move is to create a retail mark in textile segment. We are now trying to become a retail oriented and customer centric organisation. The corporation has launched a retail chain called ‘Indian Republic’ and is planning to open about 100 franchise stores by March 2014. Starting initially with the men’s wear the stores will have an entire range of garments, including women’s wear in the near future. First of the stores will come up in Hyderabad, Chennai, Bangalore and New Delhi.
Is there any change in the target audience as well?
The core mission of the corporation is to be leading textile enterprise steadily improving capacity utilisation, economy of operations, productivity, quality, brand, market share and export. The ‘Indian Republic’ stores, which are yet to be launched, will be selling consumer-centric products to serve the wider base of target audience.
What initiatives are you taking to communicate the move to the audience?
NTC is banking on the marketing strategy which communicates its value preposition to the target audience. The corporation will be launching its stores which will be backed with rigorous media plan to create a retail mark in the industry.
What kind of challenges are you facing?
The growing brand culture among Indian consumers has percolated into smaller towns and rural areas as well. Bringing the best retail experience closer to the homes of rural consumers is a challenging business model to work in.
What’s your assessment about Indian fashion and textile industry?
Textile industry currently is contributing about 14 per cent to industry production and 4 per cent to country's GDP. The sector is the second largest employer. Hence, the future of this industry will flourish. It is estimated that India would increase its textile and apparel share in the world trade to 8 per cent and reach $80 billion by 2020. Also, with this sector being highly competitive, only the company, which will address the consumer need will survive.