Hasbro in expansion mode, targets 100 stores by March 2012
Chennai-based men’s apparel manufacturer Hasbro Clothing is in expansion mode. The clothing company plans to have 25 more stores by March 2012 and is targeting growth of 30 per cent this year. Hasbro is also eyeing new markets and is planning to increase the number of lifestyle accessories on offer.
Published - 29-September-2011
Chennai-based men’s apparel manufacturer Hasbro Clothing is in expansion mode. The company has plans to increase the number of stores from 75 to 100 by the end of this fiscal. Hanif Sattar, Director, Hasbro Clothing, reveals, “Sales contribution from EBOs (exclusive brand outlets) will continue to grow at a faster rate than any other channel of revenue. Expansion of EBOs will be spread across existing and new markets. Currently, we have 80 stores in all the 4 southern states and in the west of India as well. We are also aggressive in expanding our MBO (multibrand outlets) business and LFOs (large format outlets) by partnering with the leading players in the country. Right now, the focus is also to grow the number of categories in men’s fashion and lifestyle accessories from the present 24 to 30 before end of 2012.” Presently, the company has over 400 multibrand outlets.
The firm is also going strong on the e-commerce front. Their portal offers an extensive range of collections for sale, many at discounted rates. Hanif points out, “Our retail brand Basics Life is probably the first private label website in the country which has started selling all the 3 brands of Hasbro - Basics 029, Genesis, and Probase - online. We consciously have a large discounted product mix of our product line from last season on our portal currently. However, this is changing very quickly as our ‘New Arrivals’ section has, by and large, fresh merchandise whose prices are at par with the prices that you would find at our stores (EBOs) or at any MBO. The revenue contribution from our e-commerce portal ‘BasicsLife.in’ alone is just 1% of our entire revenues. However, we are already in the process of growing it rapidly. The combined revenue from e-commerce, which includes sales of our fashion apparel on other MBO websites and our own Basics Life website, is in the vicinity of 5% of our total revenues.” The majority of the buying on their website comes from areas where they have a store presence and hence, most of the sales happen from south India.
The company’s growth rate last year was 37% and they are hoping to maintain a 30% growth rate this year as well. Elaborating on the market for the men’s fashion apparel segment, Hanif says, “There are different versions on the current size of the branded apparel men’s lifestyle and fashion accessories business. However, the potential is in the vicinity of approximately Rs 2 lakh crore per annum. This is the figure for the entire industry - branded and non-branded combined.
We have a presence in the entire south and west India and also stores in the Middle East and Sri Lanka.”
At present, the firm has three brands – Basics 029, Genesis, and Probase and a retail line – Basics Life. The target groups for all three brands are well-defined. Basics 029’s TG is aimed at the age group of 20-45 years. Probase’s TG is the youth, aged between 14-20 years and Genesis cuts across age groups and provides solutions on formal wear requirements. Hanif states that Probase is ‘the next big brand to watch out for’. He remarks, “The excitement quotient is highest on Probase. Close to a year back, the design team realised that that the lines between Basics 029 and Probase were blurring and this was a cause of concern for us. That said, the plan to rework the complete brand value proposition (BVP) was made. Currently, it displays the best fashion quotient and is not only the ‘coolest’ but also the freshest.”
At the recent Autumn/Winter 2011 fashion show held on September 17, Hasbro came out with a new denim range, with the tagline ‘Love Thy Denim’. Ads for the new arrivals were released across newspapers and magazines to coincide with the fashion show. The present campaign will run till December. Happy Creative Services provides all creative solutions for Hasbro which uses mainly print, and also OOH for advertising. For the Basics Life store, Happy created the entire identity from the logo to all the collaterals. They have also come out with catalogues for the stores.For more updates, subscribe to exchange4media's WhatsApp Channel- https://bit.ly/2QUdLCK