Be­liev­ing in the au­dac­ity of hope

Srid­har Thirunakara Arctic Fox, the name, was in­spired by the an­i­mal of the same name.the brand of­fers a wide range of prod­ucts rang­ing from back­packs and duf­fel bags to mes­sen­ger bags, to men­tion a few. Its Founder and CEO, Srid­har Thirunakara in­forms S&

Shoes & Accessories - - Contents -

Story of Arctic Fox The name “Arctic fox” was in­spired by the an­i­mal of the same name. To hunt for food, Arctic foxes travel long dis­tances. Their prey can usu­ally be found be­low the sur­face of the snow. So while hunt­ing, the fox must rely on its senses of hear­ing and smell alone. To catch its prey the fox dives nose first into the snow. But it keeps on try­ing un­til it fi­nally suc­ceeds. It is this spirit of re­lent­less op­ti­mism that in­spired us as a brand. We be­lieve in the au­dac­ity of hope. In a world full of peo­ple ob­sessed with overnight sen­sa­tions and in­stant suc­cess, we be­lieve in cre­ativ­ity and per­se­ver­ance. We want to cel­e­brate those who em­body the spirit of the Arctic fox – those who will re­lent­lessly pur­sue their dreams, no mat­ter how im­pos­si­ble they may seem. Prod­uct port­fo­lio We have a wide range of prod­ucts with around 150 unique SKUS rang­ing from back­packs, ruck­sacks, duf­fel bags, mes­sen­ger bags, cross body bags, con­vert­ible bags and ac­ces­sories like lunch box, pen­cil pouches, lap­top sleeves, lile fold­ers etc. All our prod­ucts have re­ceived ex­cep­tion­ally good re­sponse with ac­ces­sories in par­tic­u­lar. We have also re­ceived amaz­ing re­sponse for back­packs and duf­fel bags.

Es­tab­lished brands Vs Arctic Fox

In­no­va­tion is the key. That is what Arctic fox stands for. We only be­lieve in get­ting bet­ter at what we do and strive hard to ex­cel in what we are. Most of our com­pe­ti­tion is in the sports cat­e­gory. How­ever, we are not just an­other player in the ad­ven­ture/ sports cat­e­gory. We have bags for ev­ery age group start­ing with montes­sori/mini col­lec­tion where we have in­tro­duced in­ter­ac­tive bags for kids. We will be first in the coun­try to launch color chang­ing bag that changes color when ex­posed to the sun or any kind of heat. We have also done ex­ten­sive re­search to bring about tiny in­no­va­tions to our prod­ucts by in­creas­ing the at­trac­tive­ness and ease of use.

Strat­egy In Place

The com­pany is look­ing at a mar­ket­ing ex­pen­di­ture of close to 35 crores for the next 3 years ex­clu­sively for the brand Arctic Fox.

Mar­ket­ing plans in­cludes a 360-de­gree launch plan and sus­te­nance strat­egy, in­clud­ing ▶ ▶ TOI print cam­paign with two print ads on 25th and 29th April in Chen­nai, Ban­ga­lore, Cochin and Hy­der­abad mar­kets. ▶ ▶ Hoard­ings at key lo­ca­tion across tier 1 metro cities in May, 2018. We are also ex­pand­ing to Delhi and Noida mar­kets with our hoard­ings start­ing July 2018. ▶ ▶ So­cial me­dia cam­paign (ma­jor fo­cus on

Instagram, Facebook and Youtube) ▶ ▶ Prod­uct ex­pla­na­tion and mar­ket­ing

videos ▶ ▶ In­flu­encer-based ac­tiv­i­ties. ▶ ▶ As a part of PR ac­tiv­ity, we have also got huge cov­er­age in Malay­alam Manorama for Ker­ala Mar­ket, New In­dian Ex­press, Busi­ness Stan­dard, and Sak­shi, to name a few. Tar­get Au­di­ence Our shop­pers are mainly school and col­lege stu­dents aged any­where be­tween 16-24 years. In­dia has emerged as a key re­tail mar­ket with a con­sumer base that is fast grow­ing, young and with high con­sump­tion ex­pen­di­ture and dis­pos­able in­come. An Arctic Fox cus­tomer is value-con­scious but does not mind paying for qual­ity – with an ev­i­dent lux­ury re­tail be­hav­ior. An ideal Arctic Fox cus­tomer is also an early adopter.

Mar­ket chal­lenges

In the past when you look at back­pack mar­ket in In­dia, con­sumers have al­ways sep­a­rated lug­gage from fash­ion. Lug­gage was a util­ity, not a style ac­ces­sory. To­day, all the lug­gage brands are work­ing ex­tremely hard to com­pletely change this per­cep­tion of In­dian con­sumers. Ev­ery brand is striv­ing very hard to es­tab­lish a strong­hold in the In­dian mar­ket, the In­dian lug­gage seg­ment is on the move.

The seg­ment has, over the years, shed its tra­di­tional util­i­tar­ian tag and has evolved as a life­style prod­uct. In­creas­ing busi­ness and leisure trav­els cou­pled with ris­ing dis­pos­able in­come

and or­ga­nized re­tail­ing have led to in­creased de­mand for lug­gage. Within this cat­e­gory, the de­mand for brand names has grown, as con­sumers as­pire for goods that count as sta­tus sym­bols. To cater to this need of the con­sumers to own a “BRANDED” bag is the big­gest chal­lenge Arctic Fox is fac­ing to­day. Brand build­ing is a steady process and to po­si­tion your brand as a lux­ury brand is a very big chal­lenge to any new comer in the mar­ket. But with the ex­cel­lent qual­ity and looks Arctic Fox will surely own the mar­ket in the next 2 years to come. Sus­tain­abil­ity

Cre­ativ­ity and in­no­va­tion are the only way to sus­tain in a com­pet­i­tive mar­ket like In­dia. As a brand we are look­ing to in­tro­duce prod­ucts re­lated to as­pi­ra­tional ca­reer choices that the young­sters make to­day. We are plan­ning to di­ver­sify our prod­uct line to var­i­ous other interesting prod­ucts like shoes, watches and a lot more. Our in­no­va­tional prod­ucts like color chang­ing bags, cross body mes­sen­ger bags, con­vert­ible bags, in­ter­ac­tive theme bags are surely to give us an edge over our com­peti­tors. Over­view of the seg­ment in In­dia

Mar­ket size for soft lug­gage in In­dia is around Rs 3,000 Crores grow­ing at an av­er­age rate of 18% CAGR. We at Arctic Fox aim at clos­ing this year around Rs 8 to 10 crores for FY 2018-19. and aim to achieve Rs 300 crores for the next 3 to 5 years. How­ever, over­all rev­enue for Out­shiny, our par­ent com­pany, stands at Rs 93 Cr for the year clos­ing 2017-18. Arctic Fox’s Fu­ture Growth ▶ Ex­pan­sion Plans: We are cur­rently sell­ing through our own web­site and through trade chan­nels. But we are work­ing to­wards open­ing 3-4 stand­alone stores in the ma­jor malls of Ban­ga­lore fol­lowed by other cities in the south. We are also ex­pand­ing in phases in North In­dia (Delhi/ Luc­know/pun­jab) fol­lowed by the West mar­kets. ▶ ▶ Busi­ness plans: As al­ready de­scribed above, we are look­ing to in­tro­duce prod­ucts re­lated to as­pi­ra­tional ca­reer choices that the young­sters make to­day. We don’t want to be just an­other bag brand in the mar­ket. We are com­ing up with the whole new seg­ment of prod­ucts in terms of shoes, watches and a lot more. ▶ ▶ In terms of resources, we are cur­rently a team of 50 peo­ple man­ag­ing the brand Arctic Fox and will be grow­ing the team to 250 in next 2-3 years. How­ever, Out­shiny has a to­tal work force of around 1100 peo­ple.

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