Luxury Bed brand Hastens Plans to Focus on Online Expansion
In an exclusive conversation with Ludovic Letrillart, Regional Director, IMEA ( Hastens) sheds light on the growth strategy of the brand.BY Shipra Srivastava | May 29, 2018 | comments ( 0 ) |
Hastens Sanger AB, a Swedish luxury bed brand is keen to expand its retail footprint in India. Speaking to indianretailer.com at the sidelines of the opening of the new Hastens Sleep store on MG Road in Delhi Ludovic Letrillart, Regional Director, IMEA ( Hastens) sheds light on the growth strategy of the brand.
Tell us about the brand Hastens. What are your initial projections about the Indian market?
Established in 1952, based out of Swedan, Hastens is a family owned business and operational to global market since a time now. The business owners are committed to provide quality sleeping solution around the world. As the company, our focus is just not restricted to provide bedding solutions; in fact, we aim to bring radical change in people’s lifestyle. We see tremendous business opportunities in Indian market since there is a sizeable share of health conscious people in India.
If we talk about bedding solutions, India is a very competitive market. Since you are operating in the luxury space with price points of over lakh price point, how do you plan to establish your foothold in India which is highly value driven market?
India is a developing country where maximum population is well travelled and has visited our international stores as well. No doubt, there is a certain community which is well exposed and knowledgeable. Globally, we are on mission to educate people about the health benefits of sound sleeping, and this has nothing to do with price positioning that we enjoy. Since our product range is 100% organic made in Sweden, so it does come with certain price points which may be bit higher to average.
We already have a huge customer base in India talking nice our brand. When people experience the benefit that comes with our product they do spread out good words in their communities. We just cannot start from white pitch; hence, we have to create brand awareness, and there is a no better way of achieving except the positive feedbacks. In fact, we are also looking to rope in doctors, interior designers, architect fraternity, realtors to our network and use them as a medium to create the brand awareness.
What are the plans to expand the retail footprint? Since, the brand is focused on franchised model, what kind of distribution we will be seeing in the near future?
Everything starts from retail footprint only. Our initial focus is to bring our presence in all the key metros of the country. We are an experience based brand, we want people to come and touch and feel our product because every single bed we promote is customized as per what is required for individual customer. So far we have two stores in Delhi. Going forward, we do not have intention of opening our direct stores; though, we have our retail stores in the other parts of the world. We will continue to scout local partnerships that can promote and retail our products.
Any comment on your customer base in terms of numbers?
We sell hundreds of beds every month. If we talk out numbers, our existing customer base would be around 1000.
What is your initial business projection?
We plan to sell 80 to 100 beds per shop every year. Our initial target is to sell one bed every day from each exiting stores; in fact, this is the part of our global strategy now.
What are the plans to extend the brand via online channel?
We are touch and feel kind of brand. We do not have the immediate plans of start retailing via online channel. We will continue to focus on offline expansion.
According to you, what are the major challenges when it comes to offline expansion?
There are many challenges in the country like India; however, finding the right location and right local partner