Pearl hosts discussion on 'Impact of economic slowdown on fashion brands'
Pearl Academy of Fashion (PAF), India's premier design institute presented BOTTOMLINE - a brand launch presentation by Fashion Marketing (FMG) students of the Academy. The highlight of the evening was the panel discussion on 'Impact of Economic Slowdown on Fashion Brands', by eminent speakers from the textile & retail fraternity. The event provided the students a platform to identify the need gap in fashion consumption and conceptualize a winning value proposition.
Addressing the theme- Impact of Economic Slowdown on fashion Brands, the panelists comprising of Mr. Jayant Kochar, Former CEO Lacoste & CEO Go Fish Consulting, Mr. Ram Prasad, CEO, Lerros, Ms. Richa Bansal, Executive Editor Images Fashion and Mr. Vinod Kaul - Editor in Chief , RVG NewsVision Pvt. Ltd. & Mr. Devangshu Dutta, CEO, Third Eye, agreed with the slowdown in the footfall; but rather than blaming the meltdown of the economy, they focused on the major hit of the emotions & mindset of the consumers.
Mr. Vinod Kaul discussed the cutting down on resources and re-negotiating the rentals to expand, while Mr. Ram Prasad emphasized more on store-in-store probability concept.
According to the panelists - the upcoming malls, new brand launches & extension of stores stated that the companies have been investing heavily in the retail business. To counter this problem, the panel suggested a value for money market because consumers do not want to wait for the festive offers and end of season sales for buying any product. The fashion brands should develop interactivity with the consumers in order to lure them to the stores, panelists suggested.
'Bottomline' witnessed presentations by fashion marketing students embedded with brands on the runway and audio-visual show. The students worked on all aspects of marketing like product mix, branding, promotion, research, product development and commercial feasibility and presented comprehensive fashion brand-launch plans that were appreciated by the guests from the industry.
One of the brand launch categories included Eco Clothing –smart fashionable clothes which were sensitively produced. The brand was all about being super stylish, conscious, responsible and Earth-aware. Ombre : Men's Inner Wear brand focused on innovation through styling, colors and prints. The Inner wear brand explored innovative marketing concepts such as washroom advertisements.
Providing a safe and kids friendly garments Cocoon: Kidswear was designed for kids comfort and convenience. While Hott Soul: a popular brand of sneakers among women was extremely stylish and in its bright colors & exclusive designs. Voila: Lingerie- catered the psyche of the young Indian girls. Being stylish & comfortable the brand was designed for the girls who are smart, stylish daring & confident.
Mr. A.K.G Nair, Group Director, Pearl Academy of Fashion said, “The changing market conditions have bolstered the demand of highly competent fashion marketing professionals who can take up key positions in fashion marketing, brand management and related areas. Bottomline is PAF's initiative to provide practical training to Fashion marketing students and groom them to cater to the industry demand. We plan to host such events in near future that gives the students a platform to showcase their creativity and help them hone their skills.”