India, by virtue of being so diverse, is a tricky market for companies to market their products… how critical is India to the global revenues plans & your partner?
Our casual DNA ! We very well understand that there’s intense competition in the market with domestic as well as international brands wooing the consumers with their offerings. I believe that there’s no brand with casual DNA like ours in India. We are all confident that our brazilian made products would offer consumers superior quality and we would be a formidable competition for many. I am very excited about the venture. Internationally, ‘sneakers’ is our best performing category. We did an extensive survey of the market and are glad to associate with Metmill. Currently, we are selling in 70 countries and operate on the same model. We work with partners all over the world, and in some countries we work directly with retailers. Indian market is very similar to what the Brazilian market was in the 2000’s. Our Indian partner Metmill has a robust standing and understands our DNA very well. So, we shall operate in India through all the touch points of metmill and we do not plan to open any exclusive outlet. We have partnered with Metmill, Mumbai as they operate via shop-in-shop (Shoppers Stop, Lifestyle, Mochi, etc.) and distribution format. Metmill has a strong presence at over 600 point of sale and backed by the leading footwear chain Metro Shoes. Interestingly, they also are the largest distributor for Crocs in India. We are a premium brand with affordable price tag. Our average price point is the middle range i.e. between Rs. 4000Rs.6500. Which I suppose would be aggressive pricing for a premium leather shoes. Earleir this year, in May, we had our soft launch and we had introduced 36 sku’s. In September, we plan to launch 16 new options. Though we have around 200 plus options, but initially we want to present the consumer with a decent sized collection. There some great domestic brands in India, and even international brands have a strong presence in the market. In any new market, the established brands have an edge and pose competition. However, we have products to compete with these brands.
What would be your online strategy?
We have our own online store and are available on Myntra.