Building Indian brands in global apparel market is necessary, because the markets can increase the value of their products by branding. As well know, there are very few apparel exports who had attempted to create brands in the global market. Others, still supply to international buying houses or retail chains as per the specifications and designs provide by the buyers and most importantly the exporters put the label or brand name as stipulated by the buyer where in the exporters voluntarily hide their identify in the global market.
The consumer tastes are changing fast due to the influence of cultural, psychological and global trends and hence they are less loyal. Many global brands are also entering the Indian market, making Indian brands clueless as to how to survive the competition. This situation necessitates the marketers to strengthen their brands for their stay in the market. This might be possible only when the marketers consider branding not as a set of activities, but as a strategic thinking. Although, the apparel exporters do have the capability to produce as per the requirement of global market, their main lacuna is strategic thinking in creating their own brands. Lets see the scenario of apparel branding in domestic market.
The liberalized trading regime has ensured incremental international trade, thus providing greater exporter opportunities; and at the same time exposed the domestic industry to import penetration. Fashions are led by world class brands like Chanel, Lancome, Givenchy and Gucci. Brands and retail are also playing great role in this segment. Branding is a strategy that is used by marketers. Brand occupies space in the perception of the consumer, and is what results from the totality of what the consumer, and is what results from the totality of what the consumer takes into consideration before making a purchase decision. So branding is a strategy, and brand is what has meaning to the consumer.
The authors are Asst Professor in Department of Textile Technology at Shri Vaishnav Institute of Technology and Science, Indore