Bestseller launches Vero Moda in IndiaMonday, 17 May 2010
Bestseller is a family-owned clothing company from Ringkøbing, Denmark. In India, Bestseller is present under the brand names: Jack & Jones, Only, Pieces and Vero Moda. ?We have just launched Vero Moda and opened our first store in Mumbai. Our target is to open 50 stores in the next one year. We have already signed up for 20. In the next three months, one will see 15 to 20 stores across the country?Mumbai, Ahmedabad, Surat, Pune, Baroda, Goa, Delhi, Chandigarh, Amritsar, Ludhiana, Jaipur, Bangalore, Hyderabad, Chennai and Kolkata. These stores will be 2000 sq. ft. and will be company-owned and managed. There will be no franchisees,? says Gautam.
Initially, they plan to make Vero Moda available in exclusive stores and large formats. They plan to be in Lifestyle and Shoppers Stop in the next three months. The brand also perceives Tier II markets as exciting. ?These cities are evolving. Maybe the turnovers may not be as good as the Tier I cities but they are maturing faster than Tier I markets. For a new brand, it becomes necessary to position itself right and get into the consumer?s mind. So it?s better to get in now, create brand visibility and brand awareness,? adds Gautam.
In this competitive world to be different from the clutter brands come up with innovative ideas. Vera Moda too in order to lure its customers has come up with offers such as giving out free garments to 100 shoppers and top celebrity stylists offering style tips to customers. Gautam explains, ?Women in India are maturing in terms of styling. Therefore, we thought of getting a stylist because they know what fashion is all about. Thus, the consumer connect comes in very fast. Something that breaks the clutter is very important. Everyone does a fashion show. That?s not a clutter-breaker. No one walks their customer on the ramp. Everyone makes an offer but no one gives a free garment on any purchase. Everyone does a press ad but no one does the ad we did. Everyone advertises on radio but no one does a road block as we did. We have done a complete road block on two channels. The punchline is we are launching in style. That?s what we are trying to do.?
Globally they are a 1.6 billion euro company out of which 35 per cent turnover comes from Vero Moda. For Vero Moda, India they plan to attain Rs 200 crores in two years.