V-Star surely has come a long way in its undying quest to climb peaks of excellence.
It is an every day challenge for a retailer to satisfy the diversified demands of discerning customers. The further challenges are to reel in more customers, assure their loyalty, drive in more footfalls and the ensure the conversion rate. In order to gain more profits, retailers try to lure the customers with in-store signages, advertisements and customer-loyalty programmes. No matter how unique these strategies may be, they do not guarantee a success rate. Thus, to ensure a minimum return on investment, the retailers need to ascertain that the format, product assortment and the location of their store assures profits. Exclusive brand outlet (EBO) does ensure that the store is never out of stock, thanks to the predominant one-brand presence. Exclusive Business outlet or EBO’s have traditionally been the building blocks for brands. Before setting up an EBO, a lot of crucial factors are kept in mind and elucidated upon.
The opening of an exclusive showroom requires a substantial amount of investment, therefore the organization makes sure the investment doesn’t go futile and yields the best results. EBO’s offer the brand potential for complete display of the offering and also provide specific services related to the brand.
The Value Proposition :
The brand value proposition is clearly translated and experienced by consumers within the EBO format. Branded stores usually find presence in either malls or on the high streets, largely experience led prominent shopping places Internationally, as also in India, brands have often used EBOs as an essential tool for brand salience and typically do not spend on ATL advertising activities. The EBO’s have been used for communicating the brand’s image and offering. BRANDED outlets are target to customers who want to come close and personal with a single brand. To promote the brand idea a single branded outlet can be a better option because with this, the idea can be communicated effectively. The ambience is designed carefully to flourish the brand image and give a holistic experience to the customer.
Brand Salience : The furniture, music, lighting, beverages and colours are chosen which helps to create the brand image. Since there is a considerable control over the ambience of the single branded outlet, the target group can be attracted effectively by providing an experience which is in line with the brand idea. Exclusive brand outlets (EBO’s) play a vital role in propagating and promoting the values or elements attached to a brand or a name which a brand wouldn’t want to be mixed up with others.
New Trends emerge from EBO’s : The objective of the single branded outlets is spotting the next trend, test-market combinations that a retailer might otherwise hide at the bottom of the rack, pick-up consumer feedback, and even making customers co-creators. These outlets are the ultimate in being customer-centric. Beyond being points of interaction, they enable the companies to pick ideas, track trends, test products and even reverse-engineer products based on feedback.
Luxury products generally have single branded outlets to position it as an aspirational product. But the recent trends has shown that the non luxury product brands are also coming with their own branded outlets.
Companies start with strategy of only EBOs with the assumptions-
- Prominent visibility of brand
- Control on shopping experience
- Display of wider range, including items which are risky for an MBO
- Allows display of new range, to check market reaction
- Minimize substitution by another brand, when a customer likes a style
EBO’s foster Brand Loyalty :
Exclusive brand outlets play a major role in helping brands in fostering its market recognition. But at a time when the Indian retail landscape has altered so much, will it make any sense for brands to eye for more or does it have to be more adaptive to sustain and grow?
” EBOs would be more convenient since they focus on a single brand. Brands can showcase all the collections under one roof, that will give a complete visual experience to the customers.” comments, Sheela Kochouseph, Managing Director, V-Star Creations Pvt.Ltd.
V Star is one of the leading innerwear and lifestyle garment brand in South India and the Middle East.
V Star catalogues a wide range of quality innerwear and lifestyle products for men, women and kids.
The exceptional quality of V Star products has made it a brand name synonymous with comfort. The reason why people from different walks of life consider V Star as their very own fashion statement.
V-Guard group has always been values – driven. These values continue to direct the growth and business of V-Star also, a company promoted by Mrs. Sheela Kochouseph.
V-Star ventured into the production of innerwear for women, men and children, offering stylish spread of innerwear’s, and V-Star quickly emerged as the leading innerwear brand in South India and the Middle East.
V-Star’s expertise is end to end – we apply exacting standards of innovation, design and service throughout the journey from its origin as a single fibre of cotton, all the way to its culmination as an exhilarating and satisfying shopping experience for all our customers. And that in fact is yet another feather in our cap.
V-Star catalogues a wide range of innerwears like Bra, Panty, Camisoles, Shapewears, Vests, Briefs, Trunks, Active wears and Bloomers.
An indisputable leader in the garment sector,
V-Star has expanded its lifestyle product range by introducing Leggings, Printed Leggings, Capri Leggings, Printed Capris, T-shirts, Shorts, Knitted shorts, Track pants Nightwear, Lounge Pant, Sleep Pant and Comfy Blouse
More than anything, the decision reflects the brand’s aspiration to become a one-stop fashion destination for men, women and children alike.
V-Star unveiled its Exclusive Brand Outlets at Kochi, Thrissur, Malappuram, Calicut, Thodupuzha, Kottayam and Kollam.
V-Star EBO’s showcases a plethora of innerwear and lifestyle products and offers a world-class shopping experience for customers who like to shop in tune with the latest fashion styles.
V-Star has always strived to present a bouquet of hi-fashion collections and a plethora of innerwear & lifestyle products along with a world-class shopping ambience in our EBOs. At present V-Star have 12 EBO’s in Kerala. V-Star EBOs are present in malls like Central square, Nucleus Mall-Kochi, Sobha city Thrissur, Hi Lite Mall Calicut and also few are in high streets.
Apart from EBOs, V-Star has also opened hi-fashion concept stores in major towns and cities across South India. Featuring the latest collection of innerwears and lifestyle products, V-Star concept stores have emerged as the favourite hotspots for young fashionistas.
Thanks to its robust production capacity, V-Star manufactures more than 20 lakhs of inner wears and outer wears every month for women, men and children. Employing more than 200 direct employees and more than 1000 indirect employees, the brand has 50 distributors and 4500 dealers in South India alone.
In conversation with Sheela Kochouseph, Managing Director, V-Star Creations Pvt. Ltd.
Which is a better retail format? MBO or EBO?
S.K: Both MBOs and EBOs have their own set of advantages and disadvantages. An EBO gives a peek into the wide portfolio of products presented under a single brand, enabling it to cater to customer needs more efficiently. Concerning this, V-Star is aggressively expanding the EBO network in Kerala and South Indian markets in the near future.
In your experience, what motivates lingerie shoppers to seek out new brands?
S.K: Rather than the price, the premium segment is more concerned about the fashion and quality of the product in our experience.
What is the mindset the brand goes through in selecting a perfect location for its EBO? What are the basic requirements?
S.K: Location is considered to be the most important factor while setting an exclusive brand outlet even though rentals are high. The only thing we care is the accessibility and ambience for the customer. Visibility of the store is also very important, that itself generate footfalls.
How can brands earn the trust and sales of new visitors?
S.K: Establishing trust is not easy but it is one of the important factors that determine a brand’s success. Trust on a brand depends on many factors like years of experience, quality, trend, reachability, etc. To earn the trust of our customers, we have set up our own EBOs that boast of best-in-class facilities, world-class ambience and well-trained salespersons.
What role do customer reviews play in lingerie shoppers’ purchase decisions?
S.K: Since shoppers can’t buy lingerie items after trying them on, they will definitely pay attention to customer reviews.
What challenges do EBO’s face in the lingerie industry?
S.K: Procuring a quality retail space in metro is a challenging task now. Adequate Space with good parking facility will not be available in most of the metros. All good spaces are already occupied. A brand should have its presence in metro cities even though procuring good showroom space is a challenging task.
What are your plans for EBO expansion?
S.K: V-Star is planning to start few more EBOs in major towns in the near future and adding more segments to our portfolio.
What do major spend areas you feel will set the tone for the EBO’s industry in 2017?
S.K: Customer retention programmes
What sort of competition do EBO’s face?
S.K: Customer choices are spreading out into various brand EBO’s. Brands need to focus more on customer engagement programmes.
Will V-Star EBO’s remain in the malls only?
S.K: V-Star exclusive brand outlets are present in both malls as well as in high streets.
Few malls have limited EBO’s to advertise lingerie outside their stores or as store displays saying it attracts the wrong kind of attention and carries out vandalism as well, how do you go about managing this?
S.K: Of course, nudity is a very sentimental issue in our society. And as a matured brand, we indeed have a social responsibility and a deep regard towards the values of our society.
That said, we would advertise our products in a way that won’t affect the sensibilities of our customers.
Are EBO’s a great way to advertise and create brand awareness?
S.K: Yes. Since the major objective of an EBO is to give a peek into the wide portfolio of products presented under a single brand, it can create greater rapport with customers compared to a common textile outlet.
Tell us about the EBO’s planning for V Star?
S.K: We have increased our production capacity to meet the growing market demand. We have an excellent distribution network with sincere and committed Dealers. Still, to take it a step closer to the customer, we have our Exclusive Brand Outlets. A few more EBOs will open shortly in all the major towns.
We are already exporting V Star to the GCC countries and we have started the ball rolling to make our presence known in the European and Australian markets as well.
New ideas are in the pipeline and very soon other trendsetting, youthful lifestyle products will grace the shelves at the EBOs.
Are there any plans to strengthen your EBO’s further?
S.K: We are working on customer engagement programmes which will increase the footfalls and delighted customers.