Focus on youth oriented stores

Mr Raujeev Taneja, Managing Director, Evinix Accessories Ltd, speaks, in an interview to the Retailer, about the company and its expansion plans

Retailer: What is the background of the company?

Raujeev Taneja (RT): Evinix Accessories Ltd was incorporated in 1996 as an import substitute set up for high fashion accessories.  As promoter, we were inspired to use designing skills to convert designs into massively produced fashion products with the use of technology. The company offers products in two categories, namely, fashion accessories and apparels.

Retailer: How many stores are coming up and what will be their operation-model?

(RT): We are opening two stores in Pune before February-end.. All our stores will be in the model of company owned and company operated. They will not be franchised. In all, we plan to open 125 stores in our first phase that will continue till 2009.

Retailer: What is the idea behind launching 'CUT' brand?

(RT): CUT is a chain of youth style stores and will sell apparel, footwear and accessories for youth in the age group of 16 - 35 years. CUT is an acronym of Comfortable, Urban and Trendy. With all the international brands, whether available in India or overseas, the merchandise offered will be entirely will be a branded lot. The unique fashion accessories will comprise belts, bags, caps, wallets, purses etc. With an eye on the burgeoning young population who has a great demand for branded fashion items, CUT stores are being opened in tier II, III and IV cities across the country.

Retailer: What are the strategies used to beat the cut-throat competition in the market?

(RT): Our retail stores are many-brand stores and our biggest strategy revolves around mix-and-match of 61 world brands available in our stores, which will be a youth style destination. Style counselors will guide every youth walking into our store. Also, our entire campaign is location-specific incorporating maximum BTL activities, which include sponsoring of youth events.

Retailer: Which locations do you look out for opening the stores?

(RT): We are planning all the stores in youth centric areas such as, universities, IT companies, multiplexes, Café Coffee Day etc. No stores are being planned in the malls. All locations are strictly in non-metro cities with majority of youth population.

Retailer: How do you see the future of CUT stores?

(RT): As indicated by studies available, the consumption patterns in the country will be driven,in the next few years, by younger population which is growing rapidly in their strength as well as income. The younger population will be more brand and style conscious. Keeping this in view, our focused format of CUT youth style store is bound to experience a phenomenal success.