Maxwell Industries Limited, leading Indian firm, involved in the production and sales of innerwear, is contemplating on opening exclusive brand outlets (EBOs) across the nation, according to a fibre2fashion report.
Sunil J Pathare, Vice Chairman and Managing Director, Maxwell Industries said: “We understand that the essence of a consumer product is that it should be available in all the formats of trade in most of the market. At present, we are present and servicing consumers through wholesale, distribution and e-commerce channels. However, exclusive retail stores have been missing in our trade format. The EBO format not only shows the brand in full glory, but also projects a larger than life imagery for the brand. Hence, this year we will be rolling out our retail plans".
The company works on multi-brand strategy, and each of its brands has a distinct set of consumer segment based on psychographics, noted the report. 'Demographically, the consumer segments might be close by, but they are quite distinct in behavioural aspect,' Pathare pointed out.
Maxwell provides more than 400 products under different brand names that cater specifically to certain target groups. The main brand ‘VIP’ caters to more mature upper middle class of the society, whereas ‘Frenchie’ caters to fashionable youth, ‘Feelings’ to young females in upper middle segment, and ‘Eminence’ is French brand that is promoted among affluent class of the society, the report said.
'Over a period of time, we foresee around 25 percent business growth coming from the EBO format. The retail expansion will be done through two modes – company owned stores and outlets based on franchisee mode', Pathare added.