Toniq Retail Brands was launched with a view to cater to the accessories market in India, which was hitherto unorganised. Each of their four brands - Toniq Accessories, Fida Jewellery, Pulse, and The Bro Code were formed keeping in view the different consumer segment that it caters to. Toniq Accessories offers fashion jewellery such as necklaces, rings, hair accessories etc. Fida is their line of handcrafted Indian ethnic jewellery. The Bro Code offers men’s accessories such as ties, cufflinks, lapel pins and much more.
What are the price points your brand ranges in?
Each of our brands caters to a different market segment. While Toniq accessories offers products in the range of Rs.249 to Rs.3000 (including bags). Pulse caters to a relatively price sensitive audience with products in the range of Rs.100 to Rs.800.
There exist many players in this segment, what’s your strategy to beat the existing competition?
As a company, we stay on top of our game by planning ahead. We focus on planning, forecasting, trend research, designing, pricing and branding and visibility
We do research on trends and keep an eye on the changing business scenario combined with high business expertise, which let us stay ahead of the competition. Through our accessories brands, we cater to different segments of the market, allowing us to focus on each. Individually, each brand follows a separate strategy that suits its identity.
Which format, according to you, works well for your brand– EBOs versus shop-in- shop? Why?
The Shop-in-shop format has been a huge success for Toniq as a brand. A large portion of Indian consumers even now consider ‘accessories’ as an add-on for their attire. The Shop-in-shop format allows us to reach them in a manner that is both convenient and effective. Point of purchase displays in MBO formats continues to be one of the most lucrative spaces for accessories retailers.
Keeping in mind the growing customer preferences, what’s your omni-channel strategy? Do you sell through your own ecommerce or through marketplaces and which ones?
Keeping in line with today’s highly competitive market, we have opted for a multi-channel strategy which allows us to reach a vast array of consumers at their place of convenience. Our brands are available offline at various ‘Multi Brand Outlets’, as well as online on our own e-commerce website and other shopping marketplace giants such as Myntra, Jabong and many more.
What’s the technology that is being used to make store operations efficient and who are your tech partners in the same?
As a ‘shop-in-shop’ format, a large portion of our operations management involves aligning our systems with that of the parent retailers. Inventory control systems have become an indispensable part of our operations.
How do you manage your supply chain and logistics effectively?
We follow well established supply chain models at all levels. Time management becomes a priority for us, to keep things running smooth and efficiently. We have longstanding relations with our suppliers and logistics partners, which enables us to stay on top of things.
What are your expansion plans?
We aim to establish each of our brands as the go-to accessories destination in India. We are looking at increasing our point of sales, within emerging MBOs. We are also looking at newer markets. North East India, for instance has a huge potential for the fashion category, so do the tier two and three towns in India. Our goal will be to expand to those cities as well. We will also be looking at identifying pop-ups at prominent malls across the country where we can showcase our products.
We plan to have the following footprint in FY17- 18 that is Toniq – 150, Pulse – 70 and Fida – 10.
Does franchising strategy fit in your business model currently?
Our current business model follows a holistic approach and is flexible enough for us to try out various expansion formats, including franchising. For franchising, we wish to expand in the North-Eastern region as well as some of the two and three tier cities.
What support you give to the franchisee?
We will provide franchisee with all the support required in the following aspects namely Product, Technology know how, Warehousing practices, Pricing, Merchandising, Forecasting and Trend analysis.
Subway, the global leader in freshly made, customizable sandwiches, has achieved a significant milestone in India by opening 100 new stores in 2024. This expansion underscores the brand’s rapid growth trajectory in one of its fastest-growing international markets. With a renewed focus on modernization, localization, and customer-centric innovations, the brand is strengthening its position in India’s highly competitive Quick Service Restaurant (QSR) industry.
India’s dynamic and evolving food industry has presented a lucrative opportunity for Subway to expand its footprint. With the opening of its 100th store in Lokhandwala, Mumbai, Subway now boasts a formidable presence of over 900 stores in more than 160 cities across India.
“Reaching this milestone of 100 new stores in a year is a testament to our customers’ trust in the Subway brand. This marks a significant chapter in Subway India’s growth journey, reflecting our unwavering commitment to delivering fresh, high-quality, and made-to-order sandwiches to our discerning customers,” said Tarun Bhasin, CEO of Culinary Brands, the exclusive master franchisee for Subway in India, Bangladesh, Sri Lanka, and other countries.
The brand’s aggressive expansion in 2024 is driven by the increasing consumer demand for freshly made, healthy, and convenient food options. As lifestyles change and urbanization accelerates, Subway is strategically positioning itself as a preferred choice among India’s young and working population.
The remarkable success of Subway’s expansion in India can be attributed to multiple key strategies:
While Tier I cities remain key markets, Subway is aggressively expanding into smaller cities to tap into their growing disposable income and rising demand for global QSR brands. Establishing outlets in high-footfall locations such as malls, airports, and highways ensures greater brand visibility and accessibility.
“At Subway, we recognize that every market has unique preferences and challenges. That’s why our menu innovation team continuously researches and adapts offerings to suit regional tastes while maintaining our global standards,” Bhasin explained.
The brand has also introduced new product lines to cater to India’s evolving taste preferences. Recent additions include the Hot & Cheesy Signature Subs and Breakfast Specials.
“Consumers love our Hot and Cheesy Signature Subs. They are the perfect indulgence during winters, offering 1.5x filling, extra cheese, and served piping hot. Options include Cheesy Paneer Tikka, Mexican, American Barbecue, Chicken Tikka, and Lamb Pepperoni,” said Bhasin.
Subway’s Breakfast Specials are another hit, offering fresh, made-to-order sandwiches that cater to professionals and early risers. “It’s a perfect fit for morning meals, and customers can walk in or order online in metros and mini-metros to relish these sandwiches, best paired with hot coffee,” he added.
Subway is harnessing technology to enhance customer experience, streamline operations, and support its rapid expansion. Key tech initiatives include:
“Technology has been an anchor for multiple departments at Subway. Various specialized tech tools are leveraged to support retail expansion and drive decision-making in the supply chain, quality, and operations,” Bhasin noted.
Looking forward, Subway has set an ambitious goal of becoming India’s largest QSR chain over the next decade. This vision is built on key pillars:
“We recognize that achieving our goal requires strategic planning and agility. However, our unwavering commitment to fresh, high-quality food and a robust expansion plan will drive Subway’s growth and success in India,” Bhasin concluded.
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