Reid & Taylor eyes 300 exclusive outlets in India by 2008 to drive growth
Reid & Taylor, the premium ready to-wear clothing brand from S Kumars Nationwide Ltd (SKNL), is all set to drive its growth through exclusive brand outlets. It is currently present in 11,000 multi-brand outlets across the country and 16 exclusive brand stores.
Tarun Joshi, Communications Custodian of S Kumars, Reid & Taylor, said, “This season we will have over 20 stores functional in the country and the idea is to have 300 stores by the end of three years. This will drive our growth of about 35 per cent year-on-year.”
The contract with Amitabh Bachchan has also been renewed and he stays as the face of the brand for another 18 months. Joshi added, “It just goes to show Bachchan’s role in building the brand to what it is today and thus, we have renewed the contract once again with him.”
A new commercial will also be seen in one month’s time and keeping to the company’s tradition, a new agency and a new creative team will be working on it. “We have always taken new creative teams to work on new commercials as one agency fits all doesn’t quite suit us. Every commercial has a different need and keeping that in mind, we keep working with the agencies,” Joshi said.
However, it may be stated here that media agency for the brand is Mindshare, which the company had signed in 2003.
S Kumars entered into an understanding with Reid & Taylor Scotland in 1996 to procure and market the fine-wool suiting fabrics in India with a view to increasing its offerings in the upmarket premium segment.
In the country’s worsted market, which is valued at around Rs 1,200 crore, Reid & Taylor with a 15 per cent market share has emerged as a number two player in the segment. SKNL wants to raise its market share to 25-30 per cent in the not so distant future.
SKNL’s brand Tamarind, which had entered the market with a lot of noise but quickly disappeared due to production issues, will be relaunched next year and the company has created a special division to spearhead the brand’s re-entry into the domestic market.
Our typical marketing budget is usually 10 per cent of the topline spend