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Vasari – the ethnic brand plans global foray
01
Jul '11
Vasari – the ethnic brand for men and women is aiming at becoming a global player by 2015, by planning to open stores in overseas countries like, UAE, UK and the US. Alongside, it is also in an expansion mode in the Indian market. The brand has also set a target to achieve revenues of Rs one billion in the current fiscal year.

Currently, Vasari is available in 13 company owned outlets, 75 MBO's and two LFS. On the anvil are 10–15 more outlets, mainly in tier II and III cities like, Hyderabad, Raipur, Indore, Ajmer, Lucknow, Jammu, Bhubaneswar, Pune, Bangalore etc. The brand would be mainly targeting middle and upper class consumers, who have a monthly income of Rs. 50,000 and above.

In the words of Mr Mahesh Chand Mohnani, Director - Vasari India, “Vasari is a brand for the rich is the myth, which we want to break. We are a brand for all and thats how we want to promote. Also, by 2015, Vasari aims at becoming a global player so this is just a step taken forward to actualize that dream. Vasari should be the first brand which should come to the mind of the people when they want to shop or desire for particular attire. This is possible only when Vasari is present in their neighborhood and they do not have to travel far to purchase our products”.

Revealing their investment plans, he said, “Since the outlets are small format stores and in the franchisee mode, the investment required to be made by the company reduces drastically. Also, there would be more of men's wear outlets. The investment would vary from Rs. 2.5 million to Rs. 20 million per store, depending upon the size of the outlet and the segment it would be dealing in.”

On the various marketing strategies to be adopted, he informed, “Keeping in mind the target audience of the particular region, schemes would be developed to entice consumers to keep on revisiting the store. Also, there would be various kinds of schemes like weekend schemes, special attractions for special days, happy hours, road shows, etc. which would be organized except the advertising support which would be given to the franchisee. Also, we would try our best to be a part of the families in the areas where a Vasari store is opened”.

Speaking about diversifying the product range, he said, “There would be a diversification in the product range in the stores. Depending upon the target audience and their tastes, we would be providing them with the particular range of garments. For example, designer suits might not be appreciated in cities like Lucknow, so the section would be small, but more space would be allotted for kurta-pyjamas, pathanis and jodhpuris”.

Fibre2fashion News Desk - India


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