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Wills brand extension

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BRAND EXTENSION KIRAN SINGH (PGP30029) UNDER THE GUIDANCE OF PROF. SAMEER MATHUR
Transcript

BRAND EXTENSION

KIRAN SINGH (PGP30029)UNDER THE GUIDANCE OF PROF. SAMEER

MATHUR

ITC BUSINESSES

ITC BRANDS

BRAND EXTENSION

Parent Company Brand Brand Extension

REVENUE BY SEGMENT

ITC PERFORMANCE TRACK RECORD

ITC’s share in Apparels retail < 4%

Wills Lifestyle’s contribution to ITC’s lifestyle profits 80%

Wills Lifestyle’s contribution to ITC’s lifestyle retail revenue 60%

ITC’s share in Cigarettes 41%

Wills’ contribution to ITC’s Cigarettes profits 80 - 85%

Wills’ contribution to ITC’s cigarettes

38%(1500 crore)

WILLS CIGARETTES WILLS LIFESTYLE

Wills Lifestyle grew by 20% in 2013-2014.

Wills Cigarettes fell by 5% in 2013-2014.

4Ps OF WILLS LIFESTYLEPRODUCT

• Premium luxury brand & communicates glamour, fashion & sophistication amongst consumers.

• Portrays an international range of Ready to wear apparels & a complete wardrobe solution for its customer base.

PRICE

• Price of Wills Signature & Wills Club life is on the higher side in comparison to Classic & Sports wear.

• Casuals: 299 – 5999 INR

• Formals: 599 – 6999 INR

• Accessories: 299 – 7999 INR

PLACE

• Retail Stores, E-commerce websites.

• Expanded to Tier 2 cities and aims to increase the no. of stores by 80 in 3 months.

• Channel-wise distribution & Beat-wise distribution.

PROMOTION

• India Fashion Week promoted through celebrities.

• Mass media advertising - magazines, newspapers etc.

• Gift Vouchers on all purchases above INR 4999.

• BTL initiatives - activation, loyalty leveraging & promo.

• Consistently active on Facebook & Twitter

DETERMINING A FRAME OF REFERENCE

TAGLINE : Enjoy the ChangeUSP : Quality and diverse product portfolio

SEGMENT : People looking for clothes for the occasionTARGET GROUP : Premium buyers men and women looking for clothes for different occasionsPOSITIONING : Premium high street brand

Formal Wear Relaxed Wear Evening Wear Designer Wear

STEP 1: Who the target consumer is?

Wills Lifestyle is synonymous with elegance and style that is effortless and chic & presents a premium fashion wardrobe for men and women.

STP OF WILLS LIFESTYLESEGMENTATION

• Consumers looking for classy clothes for every occasion.

• Wills Classic: Age group of 30 – 35Wills Club life: Age group of 20 – 26Wills Signature: Age group of 36 – 45

• Segmented based on the gender and income levels as well.

• Price of Wills Signature & Wills Club life is on the higher side in comparison to Classic & Sports wear.

TARGET MARKET

• Selective Specialization – Where it has attracted people of all income levels based on its diverse product portfolio.

• People looking for smart, classy clothes for every occasion.

POSITIONING

• Caters to the need of young fashion conscious people, the working class and the sporty group.

• Always positioned itself as a premium high street brand.

DETERMINING A FRAME OF REFERENCE

STEP 2: Who the main Competitors are?

Competitors: Puma, Shopper’s Stop, Allen Solly, Van Huesen, Zara, Westside, Diesel, Tommy Hilfiger, Mango, Benetton, GAS, Louis Philippe.

Positioned as: Premium Luxury brands

Brand Definitions:Benetton – Colors, Casuals, Funky, Cool.Wills Lifestyle – Fashionable, Stylish/Trendy, Classy, Quality, Expensive.Levis – Jeans/Denims, Awesome, Comfort/Casual.Van Heusen – Formals, Elegance, Good Fits, Style.Louis Philippe – Official Wear, Class, Formals.Allen Solly – Formals, Fridays, Quality, Affordable.

DETERMINING A FRAME OF REFERENCE

STEP 2: Who the main Competitors are?

DETERMINING A FRAME OF REFERENCESTEP 3 & 4: Determine Points of Parity & Points of Difference

Wills Lifestyle’s features Competitors’

features

Prospects’ desires

POP

POD

• Style, Comfort, Fabric quality, Sizes

(Sleeves), Varied Colors, Promotions,

Good fit, Casuals, Office wear

• Classy, Price, Seasonal outfits, Celebrity

promotions, fashionable, Sporty &

Trendy combo

• Ethnic wear, Kids wear, Accessories for

kids

DETERMINING A FRAME OF REFERENCE

High PriceLow Price

Low on design & class

High on design & class

REFERENCES

1. http://www.euromonitor.com/india2. http://www.itcportal.com/businesses/fmcg/lifestyle-retailing.aspx3. http://www.itcportal.com/about-itc/shareholder-value/ITC-

Corporate-Presentation.pdf4. http://www.itcportal.com/about-itc/shareholder-value/index.aspx5. http://www.moneycontrol.com/news/business/wills-lifestyle-plans-

to-open-60-storesnext-3-years_1109106.html6. http://pitchonnet.com/blog/2014/06/09/wills-lifestyle-

consolidates-position-premium-fashion-brand/


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