FO­CUS

Images Retail - - CONTENTS - – By IM­AGES Re­tail Bu­reau

‘THE FO­CUS OF PRISMA IS ON CRE­AT­ING IN­TER­NA­TIONAL STAN­DARDS FOR CON­SUMERS’

Ajay Ku­mar Jain, Ex­ec­u­tive Di­rec­tor, Prisma on the ori­gins of the brand, com­pany’s fo­cus on e-com­merce and open­ing up of ex­clu­sive stores

A pre­mium prod­uct from the house of Poomex, Prisma caters to both men and women in the sports­wear, leisure and essen­tial wear seg­ments. It is one of the fastest grow­ing com­pa­nies in the cat­e­gory…

The ap­parel mar­ket in In­dia is evolv­ing. Con­sumer tastes and de­mands are ad­vanc­ing at a fast pace. They want con­tem­po­rary fits and styles and one home­grown brand which is giv­ing them all this and much more is Prisma. A pre­mium prod­uct from the house of Poomex, Prisma caters to both men and women in the sports­wear, leisure and essen­tial wear seg­ments. It is one of the fastest grow­ing com­pa­nies in the cat­e­gory. With a sta­teof-art fa­cil­ity at its dis­posal, the fo­cus is on cre­at­ing an in­ter­na­tional bench­mark with orig­i­nal­ity, great styling and the best of qual­ity.

In an ex­clu­sive chat with IM­AGES Re­tail Bu­reau,

Ajay Ku­mar Jain, Ex­ec­u­tive Di­rec­tor Prisma, talked about the ori­gins of his brand, open­ing up of ex­clu­sive stores and the com­pany’s e-com­merce fo­cus.

“Prisma orig­i­nates from the city of Tirupur in Tamil Nadu. It’s a part of Poomex Group, a com­pany which boasts of a 40-year-old legacy. Prisma started around five years ago and we are cater­ing to the out­er­wear gar­ments cat­e­gory for both men and women,” he said.

“We have re­cently en­tered into the re­tail mar­ket and are work­ing to ex­pand our reach. We are open­ing ex­clu­sive stores for men and women. A cou­ple of flag­ship stores are also in the pipe­line,” he added. As of now, Prisma has five stores down South, five in Mum­bai and one fran­chise out­let in Pune. All of these are ex­clu­sive brand out­lets. The brand is also look­ing at open­ing five more fran­chise stores in Gu­jarat.

“We are ex­pand­ing care­fully – go­ing re­gion by re­gion. We have made our pres­ence felt in the South­ern re­gion with five EBOS and 3,500 MBOS and now we are slowly inch­ing up, ex­plor­ing the mar­ket for EBOS, MBOS and fran­chise out­lets,” Jain said.

The Prisma man­age­ment is also work­ing with many con­sul­tants in the re­tail sec­tor – top lev­els ex­perts from com­pa­nies like JLL, Shop­pers Stop and Ray­mond – who help the brand take its busi­ness for­ward in an in­tel­li­gent man­ner. “I think our brand evo­lu­tion comes from the fact that we fo­cus on qual­ity, and our cus­tomer – in the sense that our prod­uct is de­signed keep­ing the cus­tomer’s needs in mind. That’s the only way to stay ahead in a mar­ket which is see­ing a lot of play­ers com­ing in and in which huge amounts of cap­i­tal is be­ing in­vested,” Jain ex­plained.

Lo­ca­tion Pref­er­ence

In the next phase, Prisma will be fo­cus­ing on the North In­dian mar­ket. By the end of 2017, the brand aims to have be­tween 10 and 15 stores across the na­tion with fresh plans for 2018 un­der­way.

“We pre­fer to open stores ev­ery­where – malls and high streets. We have around 40 dis­trib­u­tors across the na­tion who help us iden­tify the best lo­ca­tions. One of our flag­ship stores is lo­cated in one of Tirupur’s pre­mium high streets. Cur­rently, we are fo­cus­ing on malls where we are as­sured of walk-ins and in­creased sales,” he stated.

E-com­merce Fo­cus

While the brand has yet to de­velop an Om­nichan­nel strat­egy, the man­age­ment un­der­stands that an amal­ga­ma­tion of of­fline and on­line is the fu­ture of re­tail and ex­pan­sion into e-com­merce is def­i­nitely on the radar.

“So, although we don’t have an Om­nichan­nel strat­egy yet, we are well on the way to plan­ning and im­ple­ment­ing one soon. For the time be­ing, our prod­ucts are avail­able on some e-com­merce sites and we are look­ing for more ex­clu­sive sites. We also have our own web­site, myprisma. in, where pa­trons can go and pur­chase our prod­ucts,” Jain said.

Prisma is cur­rently do­ing ₹80 crore worth busi­ness from its stores.

“Since we are al­most dou­bling our turnover ev­ery year, we hope to take this fig­ure over ₹150 crore by

2018 end. We also hope to take our rev­enue from the dig­i­tal medium to be­tween 5 and 10 per­cent of our an­nual turnover,” said Jain.

He stated that his brand was not bound to any par­tic­u­lar cat­e­gory and that they were “very fo­cused on cat­e­gory ex­pan­sion”.

“We will be com­ing out a com­plete new range of prod­ucts very soon,” Jain con­cluded.

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