Hindustan Unilever and ITC, which have largely competed in the FMCG business, are now engaged in
market warfare in the Indian fashion industry with their brands Lakme and Wills Lifestyle. For Unilever, the Lakme Fashion Week has significantly helped in building brand equity over the years and has changed its brand image from a conservative quality product to a modern brand. Apparently, LFW Summer Resort 2010, which just concluded, has evoked an encouraging response from overseas as well as domestic buyers this year and saw an increase of 114 per cent in international buyers. Lakme?s brand equity is growing steadily both in domestic as well as global markets.
India Fashion Week is around 15 years old. Five years ago, ITC launched its fashion property by associating its brand Wills Lifestyle India Fashion Week. ITC which is getting ready to kick start its fashion extravaganza from March 24 in New Delhi feels that the brand has grown stronger in terms of brand recognition, appeal, and brand loyalty. And that it has heightened consumer interests in Tier II and III cites across the country.
ITC has launched many designer lines through the event by tying up with leading fashion designers in India in the last few years and these special collections have increased its sales by 15 per cent.