As an accessible luxury brand, Lacoste in its league does not believe in discounting, thus maintaining the loyalty and faith of the patrons in brand virtues and ethics. We are evaluating an e-commerce portal where we will host our own digital flagship. The idea again will not be to throw huge discounts, but to ensure that the patrons get the same experience and ambience that they get in offline boutiques. Most of our customers currently living in tier II cities and other major cities but unable to reach out to the brand, will be able to have an access to the brand via the portal. We will develop the digital flagship as a user-friendly interface, so that customers find a similar ease and comfort online as they experience offline.
Which markets in India are developed?
Delhi and Mumbai are the key markets for any bridge-to-luxury brand. They are well-developed for Lacoste India as well. We have penetrated these by having our presence in both high-street areas and malls. In both cases, the location of the brand in terms of reach, adjacent brands and proximity to the relevant target was the prime parameter to establish the boutique. Bengaluru, Chennai, Hyderabad and Kolkata were equally promising. Having said that, we have also targeted some next-tier cities like Ludhiana, Amritsar, Chandigarh, Bhopal, Jalandhar, Jaipur and Pune. We have been met with a great response from our discerning customers.
Where will you set up stores next?
We are now calculating and evaluating more for mall locations as compared to high-street locations. Malls provide an ideal location for a complete family vacation of 4-5 hours, that too within a premium environment. With a huge gamut of brands to choose from, malls also have theatres, food courts, parking facilities, kid zones, etc, that further enhance the ease and comfort of customers. We will continue to leverage big cities and select tier II cities on the basis of premium retail development and target proximity. We will use our past experience to a robust, selective distribution strategy.
Fibre2Fashion has a diverse global readership, and delivers unique, authoritative and relevant content. Drawing on the expertise and credibility that we have built over the years and contextualising them with our in-depth research studies, we produce authentic news, articles, reports, interviews and interactive explainers through the F2F Magazine and compendiums, among others, which help readers stay abreast with the industry trends.