Throw some light on your brand positioning?
Our mission is to make Indian homes fashionable. It has been our constant endeavor to usher global fashion into Indian homes with innovation and creativity. We have introduced hot trends, chic designs and kitsch motifs to Indian homes.
With the launch of three new collections of Portico, which market segment are you targeting?
Anyone who is looking at a fashionable and trendy appeal to their homes is our target. We cater to those who like aesthetic touch and give home fashion as much importance as quality and comfort. Besides, we are aiming at customers who believe that their home is a reflection of their thoughts, ideas and personality.
What is the objective of introducing new collections?
The sole objective of introducing newer collections is to tap wider market segments. We are trying to cater to a wide range of audience ranging from adults to children. Hence, we are launching collections that can be used as wonderful gifting option too. We are also working towards making Portico New York easily available in stores. We are trying to boost sales by visual merchandising.
As a veteran, what is your vision for the company and the industry?
Our vision is to make Indian homes more fashionable. Also, we are trying to get fashion from different parts of the world. Further, the home fashion retail industry is getting more organized, and we are moving from being just a commodity to fashion. We as a brand are prepared for this shift. We aim to be trend-setter in this space.
As Portico plans to expand its foothold in Delhi, what will be your strategy? Will you continue retailing through MBOs?
Portico New York plans more outlets for reach, approach and availability. We would be expanding through all formats LFS, MBO's, etc. Moreover, we plan to open 5 EBOs in Delhi in the next one month.
What is the current market size of the home furnishing market in India? Over the years, what changes you have observed in this segment and what is the popular trend you have noticed?
The Bed & Bath market in India is estimated to be more than Rs 12000 Cr Over the years, consumer’s buying behaviour has become more discerning. Gradually, Bed linen is becoming an item of purchase which makes it a popular trend
What is your strategy to compete with other contenders in the industry?
Portico will continue to offer fashion forward products to be ahead of competition.
Are you looking to any mergers or acquisition in the current fiscal year?
As you have plans to establish EBOs in mini metros, which are the cities and location do you plan to launch your store and why?
We want to open EBO’s in all markets with business potential
What are your thoughts on online retailing? How has been the response and sales conversion on online medium for your brand Portico?
Online retailing is helping us reach to customers where we are not present through the brick & mortar stores as well as those customers who prefer to shop from the convenience of their homes. Response on this channel is very encouraging and we feel that this will become a substantial selling channel in the years to come.