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Riding high on aspirational value
Brandishing a double horsemen logo, the American sportswear brand US Polo (make no mistake, we have no affiliation with Polo Ralph Lauren, reiterates its global CEO David Cummings) is keen to make a mark in the ?exploding? Indian market.
?In just two years of operations, US Polo,[link widoczny dla zalogowanych], an American classic style brand, has done very well and maybe a little better than what we anticipated, clocking a turnover of Rs 75 crore. We are pleased with the acceptance of the product by the consumer,? says Cummings,[link widoczny dla zalogowanych], as he nods at J. Suresh, Managing Director,[link widoczny dla zalogowanych], Arvind Brands and Retail,[link widoczny dla zalogowanych], which holds the licence to manufacture and retail the US Polo brand in India.
?Arvind has been able to create a quality product with the right look-and-feel and environment, at the right price points. It has been aggressive in the marketplace with 150 points of sales and 20 EBOs. Arvind has also maintained the DNA of the brand - we are a classic American sportswear brand representing the sport of polo in the US and the governing body of the sport, with a persona that it is approachable and casual. We are a brand an average polo player or enthusiast would wear,? says Cummings. ?Arvind has taken time to study the market and is manufacturing well-designed,[link widoczny dla zalogowanych], trendy, fashionable, good quality products.?
Globally,[link widoczny dla zalogowanych], in 2010, US Polo clocked a retail turnover of $850 million. Its top markets today are the US and West Asia. ?The brand is also evolving in Europe too and the Asian market too has been strong for us for many years.? Cummings is particularly gung-ho about chances in India. ?India is an important market to us as is China and Brazil. Currently, the Indian market accounts for just 5 per cent of our business globally. But in the next five years, it could represent 15-20 per cent of our total global business. India with its growing middle class will soon be one of our top consumers in the world, exceeding even China, which currently represents 15 per cent of our business.?
US Polo, being a mid-tier brand,[link widoczny dla zalogowanych], did well in the US and worldwide even during the economic recession, while luxury brands faced a dip, says Cummings. And in the third and fourth quarters, consumer spending grew by 10 per cent. Consumer spending is slowly returning in the US, but ?we are certainly depending on the expansion and growth of India,? says Cummings.
Today, US Polo has got the highest productivity among apparel brands in India in terms of sales per sq foot, says Suresh. While an average brand delivers Rs 30 a sq ft per day, US Polo delivers Rs 50. ?The brand has really clicked with the Indian consumer on an aspirational need. We have also invested in the product line giving superior fabrics for the prices charged. The detailing on the hems and the embroidery is also intricate ? for instance, the horsemen logo has 19,000 logos.?
?Usually, retailers invest only on exclusive boutiques, but we have also invested heavily in shop-in-shops in department stores by creating special islands with superior visual merchandising incorporating elements such as saddles,[link widoczny dla zalogowanych], mallets and photos of polo players,[link widoczny dla zalogowanych],? adds Suresh.
So,[link widoczny dla zalogowanych], the brand has seen its initial flush in the Indian market. Once the newness fades, will it still sustain its growth? Will a collection inspired from polo continue to do well in India whose passion rests with cricket?
?Some countries are more attuned to polo like Argentina and the US. While in other countries where polo is not played a lot, it takes time for the licensee to educate the consumer about the brand,[link widoczny dla zalogowanych], the fabrics, the quality, the sport etc. But polo has a recognisable imagery world wide; most people recognise polo and the prestige associated with the sport,? says Cummings.
Says Suresh: ?People need not play polo to wear US Polo. US Polo is an aspirational brand. You need an aspirational and niche imagery to satisfy the aspirational needs of consumers.?
In 2008,[link widoczny dla zalogowanych], Arvind started with the launch of US Polo menswear,[link widoczny dla zalogowanych], before expanding into footwear. This year, it is looking at getting into kids wear, women?s wear and luggage. It is also looking to aggressively expand the brand?s footprint across mono-brand stores and shop-in-shops. Come March, US Polo will be a Rs 75-crore brand in two years of operations. Next year, Suresh expects it to touch Rs 150 crore.
Growing per capita income and a rising upper middle class population (which is US Polo?s target group) will only spur the growth forward, says Suresh. In 2005,[link widoczny dla zalogowanych], there were 11 million upper middle class households in 2005; it will become 55 million households in 2014, he adds. ?I won?t be surprised if US Polo becomes Rs 500 crore in 5 years.?
With 110 mono brand stores across 130 countries,[link widoczny dla zalogowanych], US Polo has been riding along for long, facing its fair of challenges and hard times, including a litigation with Polo Ralph Lauren. ?Our double horsemen is an iconic mark of one horseman playing another. It is an action shot and a true depiction of the game,? explains Cummings. ?But we have been in litigation with Ralph Lauren over the logo for long. Ralph took our logo and made it popular. We were founded in 1890 ? far before Ralph Lauren was started in 1967. Ralph has done a nice job in creating a fashion brand but we are a sportswear brand representing the sport of Polo.?
As a result of the litigation, US Polo today carries a clear disclaimer that it is not affiliated with Polo Ralph Lauren, in order to distinguish the two brands and there is no confusion in the consumers? minds.
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