)
Media house Bennett Coleman & Co. Ltd. (BCCL) and fashion retailer Shoppers Stop have entered into a strategic partnership to extend the brand Femina into the consumer products space. For this purpose, BCCL has created a separate retailed identity for Femina in the form of 'Femina FLAUNT'.
Through this partnership, which operates on the ‘co-create and co-own’ philosophy, BCCL will license ‘Femina FLAUNT’ to Shoppers Stop, to design, develop, and retail the brand, exclusively across Shoppers Stop stores, in the core fashion categories – apparel, footwear, accessories and bags. These products will be available in physical retail from September end.
Vineet Jain, managing director, BCCL, said: “This is in line with our brand extension strategy to partner with the best-in-class players to unlock immense hidden value in many of our marquee brands. As a group, we’ve always been ahead on the innovation curve, and this partnership is another such example.”
Govind Shrikhande, Customer Care Associate & Managing Director, Shoppers Stop Ltd. said: “In line with our brand philosophy of ‘Start Something New’, we have embarked on a new partnership with the BCCL group to launch ‘Femina FLAUNT’ in our stores. The premium positioning of this brand fits seamlessly into our diverse portfolio of premium brands. We are positive that ‘Femina FLAUNT’ will be a huge success with our discerning customers.”
Sandeep Dahiya, Director and business head – Brand Extension, BCCL said: “With Shoppers Stop as the partner, we’re confident of stability, sustainability and most importantly, scalability of our brand, in these categories. The designs are primarily by our team at BCCL, while the sales and marketing is taken care of by Shoppers Stop. We are targeting Rs 100 crore in sales in four years, at most five years.”
He adds that the contract includes a clause, which will allow Shoppers Stop first right to refusal for acquiring the Flaunt brand and taking it in-house after the first five years of the partnership.
The retail brand will have products in four categories to start with – western apparel, accessories, footwear and bags for women. Targeted at women aged 25 years to 35 years, these products will be available at 20 Shoppers Stop outlets in the top eight tier-1 cities. The apparel range will be available in the premium price bracket, starting at Rs 800, up to Rs 4,500 which will be available with the other three categories exclusively through 300-400 sq feet of dedicated shop-in-shop space, within Shoppers Stop stores.
