BORDERLESS IS THE NEW FASHION

After having made a mark in India, many national players are successfully expanding in the overseas markets too. So, what works and what doesn’t work in markets outside India? How does brand positioning interplay with the developed markets? Answering such queries, Manish Mandhana, MD, The Mandhana Retail Ventures, says, “The current market scenario is favourable for Indian brands looking at international expansion. Brand India has clearly arrived on the world map. It is important to reiterate that the success of the product is based on positioning as a global product and not keeping it limited to the Indian market.”

“Any brand entering a new market should adopt an omnichannel marketing strategy to ensure success. The product offerings should be universally accepted and the pricing should match the expenditure pattern of the market,” says Mandhana, who is tapping such markets outside India that have a significant Indian population, as for example, the Middle East, Nepal and Mauritius. Meanwhile, ethnic wear brand Soch is planning to open franchise stores in the UAE, Sri Lanka, Australia, Canada and the US.

“Much like global fashion brands testing waters in India through e-commerce channels, we will conduct a market test via the online medium before opening physical stores,” shares Manohar Chatlani, MD and CEO, Soch. There are several learnings which these retailers have gleaned while expanding internationally. “One of the most important is researching the economic policies of the country you are setting your shop in. Another is the adoption of the consumer trends,” Mandhana says.

Going Ahead

Fabindia, which presently operates stores in overseas markets such as Singapore, the UAE, the US, Malaysia and Mauritius, it is looking to open stores in Fiji and Sri Lanka too. “This would be in collaboration with local partners,” says the brand spokesperson. The mantra is to expand at the right time and in the right way and as Mandhana puts it, “Providing global fashion at the opportune moment is a simple formula for expanding out of India.”

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