“We aim to focus on the smart wearable segment”: Ayushman Chiranewala
In an exclusive conversation with Ayushman Chiranewala, Head of Marketing - Fastrack, TITAN COMPANY LIMITED sheds light on brands’s journey so far.BY Shipra Srivastava | October 12, 2017 | comments ( 0 ) |
Despite being a part of Titan, Fastrack has established a separate identify of its own over the years. How would you sum-up the journey of the brand to Indian markets?
In a time where youth brands seemed almost non-existent, Fastrack was launched as Titan’s answer to millennial fashion needs in the country. Becoming one of India’s first independent urban youth accessories brand in 2005, Fastrack, carved a niche for itself with campaigns and offerings which not only questioned the status quo, but also broke them. Since then, Fastrack has extended its footprint into accessories in 2009, with an exciting range of bags, belts and wallets. At Fastrack, we have always followed the tradition of being unapologetic, bold and brazen, with campaigns sometimes outlandish and audacious. Set against a backdrop of quirky concepts, our communication always held connotations frequently edgy and daring, just like our products. From being a brand tagged as ‘cool watches by Titan’ to being one of the most fashion forward brands offering smart wearables, sunglasses, bags, belts, wallets and frames, is what has been Fastrack’s journey so far.
Kindly shed light on current footprint of Fastrack in online and offline channel? Also shed light how you plan to scale up the distribution across the channels?
Our retail chain has over 169 exclusive Fastrack stores, along with amassive online presence through our e-commerce websites, Fastrack.in and Eyeplus.titan.co.in and e-commerce platforms such as Flipkart, Amazon and Snapdeal. With this wide presence across channels, our omni-channel approach looks for holistic buying experience of the consumer.
Kindly shed light on your omni channel strategies? Where would be the focus(which channel) as far as future expansion is concerned?
Millennials grew up in the time of technological change and globalization, having a distinctly different set of behaviors and experiences. They are savvier and highly educated. Making spending decisions on their mobile devices, not stopping for anything. Being a young brand ourselves, we relate and understand these behaviors. Having said that, we also understand that this young generation values traditional experiences, for example to feel and experience the product first hand. Hence, our aim is to work with online platforms while effectively driving sales through ourown channels. The focus here is to create a seamless blend of brick-and-mortar and online shopping.
Apart from watches, wallets and sunglasses what other products are retailed via Fastrack? Also shed light on your best performing product/ category so far?
Currently, Fastrack has a wide array of quirky offerings in categories such as sunglasses, watches, belts, wallets, helmets, bags and frames. For FY 17-18, Fastrack Reflex, the brands first-ever smart offering, has been the best performing product.
What is the frequency of launching new collections to your stores. Also shed light on your latest collection?
On an average Fastrack launches 2-3 products every year. We recently launched a collection of EDM inspired time pieces by Fastrack. With dynamic colors and distinct two-tone dials, the collection brings to life the trance and the riot that is an EDM Party!
According to you, what are the major challenges when it comes to watch retailing in India?
The Indian retail market has seen a transformation in the last few years with the advent of new startups, rising income levels, urbanization and the growth of digital mediums that have changed consumer buying behavior and demands. To cut through the clutter of market competitions, it is imperative to map the challenges and missing loop holes that offer us the leeway to best service our customers. With a slew of new products in the watch categories across the world, every watch brand is also exposed to a number of duplications and counterfeits that restrict direct purchase by our consumers.
At last, kindly shed light on your growth plans?
With the launch of Fastrack Reflex band this year, we aim to focus on the smart wearable segment as a key offering to our consumers. The constant development of watches with fitness trackers and sensors enable us to target the youth with smart wearable designs that boast of quirky designs and features. Today, the discerning and new age millennial demands a unique and seamless consumer experience with accessories that cater to all their needs. The launch of Reflex in the smart wearable category is a first step to developing interesting new products in the upcoming years.