HIGH FIVE

"Don't fall in a seasonal rut, keep unveiling new products"

Rajesh Jain, MD and CEO, Lacoste India, on how affordable luxury brands can create a strong customer pull

Vishal Koul

Be a bridge for aspirants: Brand positioning is very important. Place the brand above the premium category but below luxury. For example, position your brand above Tommy Hilfiger but below, say, Armani. This makes it an affordable luxury brand and accessible to those aspiring for this level.

It’s all about location: With malls fast becoming the hotbed for retail, exclusive brands must be present in malls. Open exclusive boutiques or shop-in-shops in premium malls because that’s where your potential customers tend to linger.

Right alliance: Look for a like-minded distributor to partner with and treat them like equals. Look for long-term relationships and not partners who are in it just for the money.

Time to market: Fast fashion is a must to keep your customers hooked. Don’t wait for a season to start, launch new products every month.

Specialisation matters: For an exclusive brand, specialisation matters. Assign dedicated teams to deal with every aspect of the brand — right from business development to customer service. That way, every aspect, will fetch you customer loyalty.

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