Kindly shed light on fashion accessories market in India? How do you see this market will grow in next five years?
The demand for fashion accessories in India is growing and will continue to do. There has been a paradigm shift in the industry and an accessory is no longer just a necessity but an expression to one’s personality. It’s getting more personalized in nature as retailers now customize their product offering and brand assortments suiting to the affluent customers.
Kindly highlight the current distribution of the brands? Also, highlight the strategies to scale up the same?
Leather accessories have just scratched the surface in India. Current strategy is about producing a one-stop leather portfolio for all aspirational needs of leather products of a customer who is an executive to the lady who has to attend an evening social gathering exudes confidence with a Da Milano bag; from an octogenarian who prides himself with a seven insert leather wallet to the young engineering student walking with aplomb with his computer bag. Scalability is about syncing technology with Indian craftsmanship, using a semi-skilled force and using rural talent to the most. The resultant is a burgeoning revenue that grows at a CAGR of + 25% over next five years. Economies of scale result in cost competitiveness resulting in leaving behind the competition.
As a brand we believe in evolving and adapting to customer’s needs and requirements which may change over a period of time. We constantly compete with ourselves and make sure we are up to date with latest technology, fast moving fashion and international service standards.
Our customer is our utmost priority and we make sure each individual is taken care of personally starting from point of sales to lifetime service guarantee that Da Milano exclusively offers.
What was the rationale behind foraying middle east market( Dubai launch)? What sort of response this store has generated so far? Are you scouting to explore other international markets as well? If yes, kindly provide the details.
It was just a matter of time. Clients from across continents have been yearning for the brands presence in global retail destinations. The Middle East is a fast growing and emerging market and holds immense growth opportunities and we plan to expand to another 10 stores within the next 15 months.
With 2 in Europe and 2 in Singapore; Da Milano will stamp its footprints at best locations in 3 continents in the next 3 years with leadership and a dedicated customer base in 2 other continents. Da Milano expects to be a global brand in the next 3-4 years. The array of products shall meet every aspirational requirement of a discerning leather product user across the globe.
How many categories the brands have explored so far? Which category is churning better margins for the brand? Also, shed light on your strategy to expand the category mix?
From Handbags, Portfolio bags, Travel bags to Wallets and Accessories, the iconic craft transpires throughout the range. Sheer elegance impeccable style and the chic appeal are hallmark of every signature product from Da Milano. The brand offers a one stop array of all leather products that have utility and a style signature that meets customer aspiration. Our products are best known for their simplicity and efficacy of use.
Kindly mention the starting and exiting price point of the brand. Also, throw light on your average bill size?
Average Bill/ Ticket Size INR 10,000/-
Mall vs highsteet, what would be ideal choice for location for upcoming stores?
A location should be such that has a high traffic count, be it in malls, high streets and at airports.
However, malls afford a more family experience and makes it very easy for customers to shop across brands in the same category and compare to make a wise choice.
How the brand is leveraging online channel? Also shed light on omni-channel strategy?
The world is getting digital nowadays, the lifestyle of the people is such that they are no longer hesitant to browse online to save time. With easy exchange and return policies, delivery methods, payment modes and exciting offers, virtual shopping is becoming convenient. With the breakthrough of internet, an information highway is created extending leverage of increasing sales. CRM solutions help tapping the right customers and make it easier to communicate with them, study their buying habits, preferences and accordingly device campaigns.
Our approach is to provide customer with a seamless shopping experience, whether through our e-boutiques or stores. Our dedicated IT team and customer care services are readily available to resolve customer queries and enhance their shopping experience. Strong digital marketing campaigns and aggressive social media combined the world class store experience is the way forward.
At last, kindly highlight your growth plans ?
We intend to increase the size of our customer base from 2 million to 20 million and be more proximate to our discerning clientele by expanding our footprints in international markets including South east Asia, Middle east and United Kingdom and more.
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