 "Arrow fixes its eye on the target")
The American apparel brand is banking on its newly launched smart shirt to gain deeper inroads into the Rs 3,45,000 crore Indian apparel market and climb the brand charts in the country.
The menswear market accounts for 37 per cent of the total apparel market and is estimated at Rs 1,32,000 crores; shirts account for Rs 40,000 crore according to market research firm, Wazir. This is a market that is growing faster than most other segments too and hence attracting a large number of brands. J Suresh, managing director and CEO of Arvind Lifestyle Brands which is the official licensee for the Arrow brand in India says the company is testing waters and expects five per cent sales from the new innovation.
Given the wide choice that consumers have today, brands are eager to find ways to differentiate themselves and find a way to increase repeat purchases. Arrow believes that the answer lies in the smart shirt which has a digital feature that if enabled can help the wearer connect with select social media platforms. "It is important to keep on doing something to sustain the curiosity of the customer. Otherwise you will be nowhere," says Suresh, adding that the brand gives 2000 options. The company has also used e-commerce platforms to create a special buzz around the new launch, thereby taking a leaf out of the book of many online brands that have built a sizeable following in the Indian market.
Suresh says Arvind launched the smart shirt on Amazon and the group's omni channel NNNow.com. Today Arvind Lifestyle brands, he says, does six to seven per cent of its sales through online channels. He adds the company has spruced its distribution network in states such as Kerala and Tamil Nadu which is a strong bastion for Madura's brands. He says Arrow does business of Rs 20-25 crore each in both the states and is the number one choice in Mumbai and Punjab.
According to Wazir Advisors, the men's formal wear market is losing share to casual wear, about 0.5-1 per cent every year. "While individual brands and their select ranges can be doing better, overall as a segment, formals are on their way down," says Baqar Naqvi, business director, at Wazir Advisors. Arvind knows this. It has launched Arrow New York, a casual wear shirt, which contributes 10-15 per cent of brand sales and it expects this segment to grow to 20-25 per cent in the near future.
The menswear market accounts for 37 per cent of the total apparel market and is estimated at Rs 1,32,000 crores; shirts account for Rs 40,000 crore according to market research firm, Wazir. This is a market that is growing faster than most other segments too and hence attracting a large number of brands. J Suresh, managing director and CEO of Arvind Lifestyle Brands which is the official licensee for the Arrow brand in India says the company is testing waters and expects five per cent sales from the new innovation.
Given the wide choice that consumers have today, brands are eager to find ways to differentiate themselves and find a way to increase repeat purchases. Arrow believes that the answer lies in the smart shirt which has a digital feature that if enabled can help the wearer connect with select social media platforms. "It is important to keep on doing something to sustain the curiosity of the customer. Otherwise you will be nowhere," says Suresh, adding that the brand gives 2000 options. The company has also used e-commerce platforms to create a special buzz around the new launch, thereby taking a leaf out of the book of many online brands that have built a sizeable following in the Indian market.
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Arrow is valued at Rs 625 crore and is currently fourth in the hierarchy of shirt brands in India. Louise Phillippe, Van Heusen and US Polo (also from the Arvind Stable) are the top three brands. "Though Arrow was launched in 1993, we relaunched it and took it beyond formal wear only in 2007. The bigger brands had an early start," Suresh says, explaining the brand's slow rise up the ladder. But he says they are fast catching up.
Suresh says Arvind launched the smart shirt on Amazon and the group's omni channel NNNow.com. Today Arvind Lifestyle brands, he says, does six to seven per cent of its sales through online channels. He adds the company has spruced its distribution network in states such as Kerala and Tamil Nadu which is a strong bastion for Madura's brands. He says Arrow does business of Rs 20-25 crore each in both the states and is the number one choice in Mumbai and Punjab.
According to Wazir Advisors, the men's formal wear market is losing share to casual wear, about 0.5-1 per cent every year. "While individual brands and their select ranges can be doing better, overall as a segment, formals are on their way down," says Baqar Naqvi, business director, at Wazir Advisors. Arvind knows this. It has launched Arrow New York, a casual wear shirt, which contributes 10-15 per cent of brand sales and it expects this segment to grow to 20-25 per cent in the near future.