Live-in: IPO, PE funds, retail expansion the way to goMonday, 30 April 2012
Club Live-in is another concept developed by the company for those loyal MBOs who do sizeable business with them. “This initiative helps us bond with MBOs across geographies throughout the year. Through this we can gratify them at the end of their commitments which provides a win-win situation for both.” Meanwhile Bhowmick says new product ranges like sportswear are being introduced, which will give them volume growth in the coming years. Moreover their newly launched online store would also contribute to growth in terms of volumes as majority of customers these days prefer online shopping. “We would like to nurture all these channels in a way which would lead us to achieve our targets,” Bhowmick adds. The company is also seriously contemplating floating an IPO apart from looking to PE funding for it believes this is a stepping stone for a brand’s growth.
Live-in was introduced in June 1998 focused on the needs of young fashionable Indian male who love to fancy themselves in a pair of jeans. Explains Bhowmick, “Live-in was introduced with the famous ‘Washing Machine’ campaign featuring Bollywood actor Dino Morea coming out of a washing machine wearing a pair of jeans. This campaign created a buzz and a huge brand recall.”
Today, with major product up-gradation, Live-in has been repositioned itself as a semi premium brand that is also at the cutting edge of fashion. It’s new range of fashion denims meet the aspirations of the smart and trendy generation. Not only has Live-in focused on redesigning its entire product range, it has also fully refurbished its total brand appeal, starting with creating a vibrant new logo that reflects the contemporary attitude of modern youth, along with designer tags and accessories.
As a result, Live-in today enjoys presence through a network of over 3,500 MBOs across the country, making it one of the most dominant brands in the MBO network. It is also available in the Middle Eastern countries like Oman, Dubai, Bahrain and Riyadh. “Our mission is to stride forward in becoming the true leader in jeans and semi-formal wear in the country by providing innovation to our styles/products and through long term customer satisfaction. Currently Live-in has 8 per cent share of the overall branded apparel category and 22 per cent in branded male jeans and semi-formal trouser category,” says Bhowmick.