Reetika Mehra Dalal, Executive Head, Up Market Brands, Forbes & Co. Ltd, in an interview to the Retailer, talks about the origin, success and growing significance of the company
Retailer: How did the UP Market Brands start?
Reetika Mehra Dalal (RMD): UP Market Brands is a premier division of Forbes & Company Ltd, which was started to harness the exponential growth of the Indian retail industry. Established by John Forbes of Aberdeenshire in Scotland in 1767, UP Market Brands started with three licensees viz. Daks London, Savile Row Co. London and Trussardi-Italy. Today, it has licensee agreement to market and distribute the renowned international brand Savile Row Company London. At present, the Shapoorji Pallonji group of companies, one of the premier business houses in India, holds UP Market Brands.
Retailer: How do you assess the performance of your brand?
RMD: When we signed the licensee agreement for Savile Row, we knew the passion behind the brand. It is recognised all over the world as a brand synonymous with grace, flair and class. It has a good reputation and heritage going back to several decades ago.
Retailer: What is ‘30+30 year’ licensee agreement of the company with Savile Row Co. London about?
RMD: With branded retailing of apparel and lifestyle products growing in India, Forbes is very much a part of the retail boom. Therefore, the company signed a ‘30 plus 30 year’ agreement with the Savile Row Company London. Under the agreement, we will manufacture and distribute the complete range of Savile Row clothing in India, United Arab Emirates, Muscat, Qatar, Saudi Arabia, Bahrain and Sri Lanka. Talks are also being held to associate with neighbouring countries of India.
Retailer: Does the company observe eco-friendly norms in making products?
RMD: We outsource our products from the best factories located all across the world. We design, process and maintain strict quality parameters and only deal with units that obey to all emission norms specified by us. Though the company is part of an industry that has a low impact on the environment, it still chooses to adopt the best practical ‘environmental method’ for production.
Retailer: What is the strength of the company’s stores in India? And what is its USP?
RMD: Savile Row Company in India has eight exclusive stores at Mumbai, Bangalore, Delhi and Jaipur. The number of shop-in-shops is 15. Savile Row’s USP is providing genuine ‘luxury clothing at affordable prices’. Savile Row conjures up images of suave well-dressed men.
Retailer: In terms of retailing, how do you compare Indian market and international markets?
RMD: Internationally, retailing has evolved to a point where large format retailing is the order of the day. It’s a pitiable situation for it takes away the entire pleasure of personalised retail experience off the consumer. Internationally, consumers prefer choosing the brand and product without interference, and take help only if it is required. In countries like India, retail has picked up rapidly with the entry of international retailers. Indian consumer’s expectations in retail experience are very different from those in any other country. The consumer expects a higher level of attention, product information and assistance while making a buying decision.
We should learn from international retailers but we should not miss to offer a unique consumer preference that suits the Indian psyche. Indian retail formats are an exclusive learning opportunity to the world for retail is proudly tuned to ‘Doing Indian’. International retailer wants to inform themselves and learn greatly from Indian retailers and the vast shopping passion of India.
Retailer: What makes your company not fearful in competing with other super premium brands?
RMD: Savile Row Company London will offer stiff competition in the category of super premium office wear garments. Sophistication and luxury are the essence of Savile Row garments and we have taken up the challenge of providing these at an affordable price. We strive to maintain our extensive product offering by constantly developing and designing new clothing and value added services.
Retailer: Who are the target customers?
RMD: Basically categorsed in section A and A1, the target group comprises the upper middle class people who are, aware of international and home grown brands, willing to spend a little more to buy quality products and those who have traveled, read and are brand-conscious.
Retailer: What is the price range for The Savile Row products?
RMD: The range comprises shirts, formal trousers, chinos, T-shirts, jackets, suits, ties, shoes and accessories. Price ranges is as follows: shirts at Rs 1,040 - 4,685; trousers at Rs 1,475 - 2,250; chinos at Rs 1,225 - 1875, T-shirts at Rs 675- 985; jackets at Rs 7,250 - 7,950; suits at Rs 7,500 -15,500; ties at Rs 575 - 975; shoes at Rs 1,975- 4,875 and accessories at Rs 900 - 6,700.
Retailer: What is the ‘future plan’ of the company?
RMD: There are plans to add women’s wear, kids’ wear, fitness range and shoes. Savile Row is targeting a large number of MBOs and departmental stores from the year 2008 while looking to simultaneously increasing the number of counters in malls. By 2012, Savile Row will increase its presence in malls and open 15 brand outlets and about 200 shop-in-shops.
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