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Gap Analysis of Declining Sales of RS Formal”
JAIPUR NATIONAL UNIVERSITY
Ph. +91-141-7197070, Fax : +91 141 2752418 Web: www.jnujaipur.ac.in
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from US$ 30 billion in FY2016.Further, India's e-commerce market is expected to reach US$ 220 billion in terms of gross merchandise value (GMV) and 530 million shoppers by 2025, led by faster speeds on reliable telecom networks, faster adoption of online services and better variety as well as convenience. India’s direct selling industry is expected to reach Rs 159.3 billion (US$ 2.5 billion) by 2021, if provided with a conducive environment through reforms and regulation. Indian exports of locally made retail and lifestyle products grew at a CAGR of 10 per cent from 2013 to 2016. India is expected to become the world's third-largest consumer economy, reaching US$ 400 billion in consumption by 2025. Luxury market of India is expected to grow to US$ 30 billion by the end of 2018 from US$ 23.8 billion 2017 supported by growing exposure of international brands amongst Indian youth and higher purchasing power of the upper class in tier 2 and 3 cities, according to ASSOCHAM. The size of modern retail in India is expected to double to Rs 171,800 crore (US$ 25.7 billion) from Rs 87,100 crore (US$ 13 billion) in three years driven by omni-channel retail. INDIAN TEXTILE INDUSTRY India’s textiles sector is one of the oldest industries in Indian economy dating back several centuries. Even today, textiles sector is one of the largest contributors to India’s exports with approximately 13 per cent of total exports. The textiles industry is also labour intensive and is one of the largest employers. The textile industry has two broad segments. First, the unorganised sector consists of handloom, handicrafts and sericulture, which are operated on a small scale and through traditional tools and methods. The second is the organised sector consisting of spinning, apparel and garments segment which apply modern machinery and techniques such as economies of scale. The textile industry employs about 45 million people directly and 20 million people indirectly. India's overall textile exports during FY 2015-16 stood at US$ 40 billion. The Indian textiles industry is extremely varied, with the hand-spun and hand-woven textiles sectors at one end of the spectrum, while the capital intensive sophisticated mills sector at the other end of the spectrum. The decentralised power looms/
hosiery and knitting sector form the largest component of the textiles sector. The close linkage of the textile industry to agriculture (for raw materials such as cotton) and the ancient culture and traditions of the country in terms of textiles make the Indian textiles sector unique in comparison to the industries of other countries. The Indian textile industry has the capacity to produce a wide variety of products suitable to different market segments, both within India and across the world. Source:www.ibef.org/industry/textiles.aspx Rising per capita income, favourable demographics and a shift in preference to branded products to boost demand. The domestic textile industry in India is projected to reach US$ 250 billion by 2019 from US$ 150 billion in July 2017. INDIAN FASHION INDUSTRY Indian fashion industry is at its infancy at the moment and has great potential to make the mark on the world stage. Fashion in india has thousands of years of tradtions behind it. India has a rich and varied textile heritage where each region of india has its own native dress and traditional costumes. Fashion industry is growing at rapid pace with international developments, such as the India fashion week gaining popularity and annual shows by fashion designers held in major cities of india. Fashion in india ids a fastly growing industry with international events such as india fashion week and annual shows by fashion designers in the major cities of the country. There are victories of a member of indian beauty queens in international events such as Miss World and Miss Universe contests which have made india
The rise of a celebrity culture has been widely noted in the literature (Kerrigan, Brownlie, Hewer, & Daza-LeTouze, 2011; Lash & Lury, 2007; McCracken, 1989). Moreover, celebrities are no longer relegated to entertainment news but regularly appear in political and business discussions as well. For example, in the recent World Economic Forum of 2014 in Davos, the political and business elite were queuing to hear Goldie Hawn’s views on meditation (Treanor & Elliott, 2014). As the economic value-generating ‘industry’ of celebrity is becoming increasingly, powerful, mediatised and globalised (O’Guinn, 1991), the socio-cultural value of celebrities is now being used to generate political and ideological values in more transparent ways than ever before: whether through charity work, political campaigns or media appearances. Indeed, Rindova, Pollock, and Hayward (2006) find that celebrity can be an important intangible asset as an attention-getting and profit-generating value. Driessens (2012) comments on the mobility of today’s celebrities as they migrate into other spheres such as politics, capitalising on their reputation. This paper seeks to show how this migration can occur successfully by using the lens of corporate branding to consider the implications of this ‘celebrity portfolio’. As noted by Kerrigan et al. (2011), there has been little research in marketing studies that has moved beyond simple economic analysis of celebrity endorsement of products (Erdogan, 1999) to determine how socio-cultural values can be packaged, framed and circulated. Furthermore, this celebrity migration is no longer limited to simple © 2015 Westburn Publishers Ltd. Journal of Marketing Management, 2015 Vol. 31, Nos. 5–6, 616–645, http://dx.doi.org/10.1080/0267257X.2014.1000362 endorsements; celebrities’ personal brands encompass a range of products and services, effectively operating as businesses and now encompassing a whole ‘lifestyle’ (see, for example, Gwyneth Paltrow: Heawood, 2014). Celebrity as a context has been shown to allow marketers to consider the emotional dimension of consumers’ responses to causes, people and even firms (Rindova et al., 2006). Through a strong brand narrative, we argue that the celebrity brand can bring into relief ideological values which serve to heighten public attention and empathetic engagement but for this to come about, the brand must perform authentically. Although authenticity has been linked to celebrity in the literature (see, for example, Kerrigan et al., 2011; Rojek, 2001) as a quality which
has historically been ‘greatly prized’ (Dyer, 1998, p. 11), there has been little understanding as to how this is performed, transmitted and negotiated. We therefore seek to unpack how authenticity is constructed, managed and circulated within the celebrity brand and how this process adds meaning and value to the brand. Authenticity is found to be inextricably linked to core brand values and narrative which is transmitted through a brand leveraging process, being augmented and replicated collectively across various platforms, media, roles and products to generate brand awareness. This follows from much of the authenticity literature (e.g. Beverland, 2006; Chronis & Hampton, 2008; Leigh, Peters, & Shelton, 2006; Rose & Wood, 2005) which acknowledges that authenticity is socially constructed. Furthermore, our research demonstrates how, through the Internet, this authenticity can be disseminated faster and further than ever before. This has wider implications for the marketing literature in terms of social, cultural and political meaning-making. As such, this paper contributes to recent research placed in the intersection between the political economy, culture and society (Brownlie & Hewer, 2009; Cayla & Eckhardt, 2008; Kravets, 2012). The way in which the celebrity brand is framed and positioned and the discourses that are picked up all serve to highlight the hidden ideological underpinnings of the market system. This allows us to consider what is perceived as ‘authentic’ and how these values are amplified and circulated. INFLUENCE OF CELEBRITY BRANDS IN INDIA The West and Hollywood have been the wellsprings of modern fashion culture and the phenomenon of celebrity-led fashion brands has also its roots in their very heart. Legendary American actress Gloria Swanson is said to have pioneered the trend with her own clothing line way back in 1950’s. Various more celebrities have walked the path since then with varying degrees of success before fading into the mists of time. 2000 onwards, the trend started gaining serious momentum with a slew of Hollywood stars, International athletes, singers and supermodels making successful forays into the fashion business. From clothes to footwear to accessories, they are doing it all.
en Sonam Kapoor’s fashion label Rheson that she started with her sister Rhea has been a total hit with every fashionista as the mastermind behind her headline-making looks, the duo is at the brink of starting a fashion empire, launching their high Hrithik Roshan’s HRX A stylish and a fitness icon Hrithik Roshan also has a fashion line for training apparels and accessories. It was started in 2012 by Roshan and Exceed entertainment. This brand is for fitness freaks hence comfort is given more importance than the looks. Wide range of active sportswear, casuals and foot wears are available for both men and women. The apparel is designed in slim fit with light weight and high quality material. Myntra has combined with HRX in 2013 and it has 51% stake in HRX.
Mumbai, Bangalore & Ghaziabad. Also in the same year of 2005, the company had launched M.A.C & Homestop, a home store. Mothercare in India and F & B outlets Brio & Desi Cafe were launched by the company during the period of 2006. Shoppers Stop made its release of twenty first (Mumbai) and twenty second store in Lucknow in the identical year of 2006 and also acquired 45% of Timezone India. The Company had opened its 22nd Store at Noida in May 2007. During the same year 2007, the company had signed Joint Venture (JV) (50:50) with the Nuance Group for Airport Retailing and also inked the Memorandum of Understanding (MoU) with the Home Retail Group of UK to enter into a franchise arrangement for the Argos formats of catalogue & internet retailing. In March 2008, Shoppers Stop kicks its operation Kolkata, aggregating the 24 shops. The Company honored with Emerging Market Retailer of the Year 2008 in April of the year 2008. In same April of the same year 2008, Shoppers Stop had unveiled its new logo and introduced the new experience Shoppers Stop of the brand. Shoppers Stop bagged Department Store of the Year award in November of the year 2008 for its reputation in the industry.
With an unparalleled assortment of the leading international and national brands in clothing for men, women, and kids; accessories, fragrances, cosmetics, footwear; home furnishing and decor products, our stores aim to provide shoppers a truly
to be entertained, even enlightened. The name embodies the vision of Crossword as a place and space for people who seek information, knowledge or just the pleasure of reading. Crossword stocks the widest range of Books – Movies- Music- Toys- Stationery- Magazines and CD ROM’s. With its large children’s section and its focus on making the store a friendly, safe, fun-filled place, Crossword attracts many families who normally don’t think of visiting bookstores. Facilities like the Crossword Gift Vouchers, the friendly ‘Return, Exchange & Refunds’ policy, the Cafes within the stores and the unique store experience make it easy and enjoyable for customers to shop at Crossword. Over 3 lacs loyal customers are rewarded through the Crossword Book Rewards Program with points, discounts, exclusive discounts & offers and more. ‘EWORDS’, a monthly e-newsletter with reviews of new books, news about in store events and bestseller lists, is currently mailed to these Members. Since its inception in 15th October 1992, Crossword has received wide recognition for its achievements; articles on retailing in India invariably feature Crossword. It has been featured in Advertising Age International, USA, as one of the Marketing Superstars for 1994. The Bookseller, UK, has also described it as ‘being on the cutting edge of retailing’ in India. HOMESTOP HomeStop is a complete home solution chain offering design, style, quality, convenience and value to the consumer. HomeStop provides high quality products required for homes with a deeper product assortment. HomeStop, the first of its kind of premium home concept store from Shoppers Stop Ltd. is the destination to
transform your dream house into a reality. It offers a choicest range of home products to give your house that unique look and feel you always wanted. From the kitchen to the dining room, the bathroom to the drawing room, HomeStop has everything that will add a special touch and exclusivity to your space. It is one- stop-shop for all your home needs ranging from home decor to furniture & recliners, bath accessories to bedroom furnishings, mattress to draperies, carpets, kitchen gadgets accessories and appliances to modular kitchen and anything else one can think of. HomeStop houses some of the most reputed national and international brands under one roof viz. Back to earth a brand with natural and earth friendly products, fragrance spa collection from Soulflower, cookware from Wonderchef & Bergner, High end crockery from Corelle, Oxo from USA, exclusive down feather pillows and fine bedding, bed linen and furnishing from Ivy, Esprit, Spread , Ddecor, Maisha, Portico, Bombay Dyeing and home appliances from Phillips and Morphy Richards, bathroom linen from Ivy, Spaces, Spread. Presently, there are 13 HomeStop stores. MOTHERCARE Shoppers Stop Ltd. Has an exclusive retail arrangement (for the department store segment) with Mothercare PLC of UK to open & operate shop-in-shops of Mothercare and ELC stores in India within Shoppers Stop stores. Mothercare is UK’s premium international brand for maternity, infant and childcare products. Currently there are 41 stores of Mothercare(including2 standalone stores) with a presence in 11 cities.
