What was the rationale behind initiating re branding exercise?
The core DNA values of Blackberrys continue through product evaluation and evolution. From 27 years we havealways stood for innovation and provided the Indian man with premium wardrobe solutions. With changing consumer needs with their changing lifestyle and growing aspiration, we felt the need to reinvent ourselves to match the needs and moods of today’s cosmopolitan man.
In line with the burning drive of the brand to grow and soar beyond every expected capability, this refresh stage is aimed atencouraging Indian men to keep striving, reinventing and ‘Keep Rising’ and cater to men with complete wardrobe solutions, from work to leisure, from formal party wear to the hipster fashion, fully accessorized.
Blackberrys now is an umbrella of 3 brands, Blackberrys for business formals & nightlife clothing, Blackberrys Casuale for smart-casual at work & travel wear and Urban Blackberrysdenim inspired and the leading youth wear brand.
How do you see the market for men's fashion is growing in India? Where do you see this market growing over next five years?
Overall, Indian retail scenario has shown sustainable long-term growth compared to other developing economies. The Indian retail market was worth Rs 41,66,500 crore in 2016 and is expected to reach Rs 1,02,50,500 crore by 2026, growing at a CAGR of 20% + percent. It is envisaged that the current fashion retail market worth Rs 2,97,091 crore will grow at a promising CAGR of 9.7 percent to reach Rs 7,48,398 crore by 2026.
Retail space will be about experience. It will not be only transactional zone, but an experience space with services like
1. Customization of the garment at the store
2. Personal shopper
3. Ensembles crafted by the store looks for selling and not individual product
4. Basis the shopping pattern of a customer, similar products get sent on phone
What is the current distribution for Blackberrys? Going forward, what would the strategies to scale up distribution?
Present in over 350 cities in India, Blackberrys currently operates in more than 260 exclusive brand outlets and 700-plus multi-brand outlets.. This fiscal, we are planning to add 100 exclusive brand outlets. Currently, our total exclusive stores would be 260 out which 180 are the company’s own stores. Overall footprint of the brand is more than 260 odd cities. North and West are our strongest market and in terms of expansion, it is largely pan-India where South remains a very important zone for us. The company will be increasing the presence in tier II and III cities further.
What are the major retailing challenging as far as men's fashion retailing is concerned?
With international brands coming to India, competition is increasing. Challenges facing retail brands could be many, from hyper consumerism to inventory intelligence and brand sensitivity. However, the ‘empowered customer’ is definitely a golden opportunity if brands know to play their cards well. As more number of customers show the willingness to experiment new styles and looks, men are more open to exploring fashion trends than ever before by letting go off the stereotypes.
Kindly shed light on your omni-channel strategy?
In terms of our omni-channel strategy, we use all media vehicles with huge presence on digital space. A 360-degree marketing approach leading to best of the class consumer experience is the route for new opportunities.
Who do you see as your biggest competition?
We don’t have competitors, we call them our contemporaries. Most of them are working together to equip an Indian consumer with the fashion and its trends. Each brand has got its own USP and they’ve their own proposition to the consumers. So, we might be a competition to other brands. But for us, these are the contemporaries working together in the market.
Kindly shed light on your major growth strategies for 2018-2019.
Blackberrys currently operates in more than 260 exclusive brand outlets and 700-plus multi-brand outlets. Started through multi- brand Outlets (MBOs), today Blackberrys holds a strong presence in large format retail (such as Lifestyle,Shoppers Stop, Pantaloons, Central), exclusive brand outlets and online operations on www.blackberrys.com along with other e-commerce partners.
We have clocked Rs 900 crores turnover this year and hope to grow further in next two years.