“We Plan To Have 100 Point Of Sales By Next Financial Year”: Amit Jain
In an exclusive conversation with Amit Jain, MD of Shingora sheds light on the growth strategy of the brand.BY Shipra Srivastava | March 13, 2018 | comments ( 0 ) |
How do you think niche categories such as yours can see a brighter future?
Certainly, this category is long overdue to have some organized players into it. This category is as good as cosmetics. In India, this category is not much explored as opposed to traditional fashion. However, internationally, it is a very big category.
Kindly shed light on your distribution?
We are an omni-channel brand. We are one of the biggest brands which sell shawls on Myntra and Amazon.in. Also, we have our own web store as well exclusive offline stores. We are also present via shop-in-shop model. We have just opened a store at Select CITYWALK mall. The opening is followed by our first store which is located at DLF Promenade mall. Also, we are supplier to many big brands abroad.
How you are looking extend the brand in offline space? Also what are the plans to increase over-all distribution of the brand?
We always believe online and offline should co-exist. However, in textile business touch and feel is very important part of the business. That is the reason offline expansion is very important for us. This is the channel which allows customers to have physical hand-shake with the product. Customers can touch and feel the products which ultimately help in gaining the trust towards the brand.
Now, we are looking at airports locations for new stores. We aim to open five-six stores pan India. Currently, we have 30 shop-in-shops and we plan to have 100 such locations by the end of next financial year.
What kind of price points you have introduced for the stores which are located at premium locations?
We have design backgrounds as vast as NIFD all the way to Italy and UK. Our designers are from all over the places. We cater to young and fashionable India. Though, we also have clienate also includes older and high-end customers. We product ranges start from Rs 2500 and goes upto one lakh.
How are you looking to build brand loyalty?
As opposed to traditional fashion, accessories segment has less loyalty. Also, since there are not many brands operational in this category, so the brand awareness is also not very high. Though, we have a rich share of repeat customers. Also, we have the licensing agreement with Disney also we keen on scouting suitable partnerships which aid to brands and create capsule collections.
24 Nov 2015, Hotel Pullman, Aerocity, New Delhi.
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