westside
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presentation on westsideTRANSCRIPT
WESTSIDEKEEP YOUR STYLE ALIVE
HISTORY• Story began circa 1998 when
TATA acquired LITTLEWOOD’S a London based retail chain
• Acquisition was followed by establishment of Trent Ltd.
• LITTLEWOODS was subsequently renamed WESTSIDE
• WESTSIDE has carved a niche for its brand of merchandise creating a loyal following
• Has garnered numerous accolades like Indian brand summit, most admired format retail chain etc
FACTS• 1952-TATA entered cosmetics business through
Lakme Ltd.• 1996-Lakme entered into joint venture with
Hindustan Unilever• 1997- TATA sold their stake in Lakme to HUL for
Rs.2 billion• 1998-TATA ventured into retailing and acquired
the Britain based Littlewoods retail store in Bangalore
• 1999- Westside expanded its operations to Chennai, Mumbai and Hyderabad.
• 2000- During the Diwali season Westside launched a festival of delights program
• 2001- Second store in Mumbai, Pune, Kolkata and Delhi
• 2002- Store in Nagpur and second store in Delhi and signed Yuvraj Singh as his celebrity endorser.
MISSION STATEMENT• To be the most preferred and
consistently profitable Lifestyle retailer• Develop a comprehensive
understanding of customer needs• Always be in forefront of fashion and
services by anticipating and exceeding the expectations of customers
• Continue to scale new heights of excellence through teamwork
• Policy to satisfy customers with the range, quality and value of the products to customers
• Complete confidence in the quality of merchandise
SELLING OWN BRAND• To earn high profit margins on
Private Labels Brand• Grab the opportunities to stand
out from the crowd• International retailers using own
label brands• To control on quality of the product• To offer unique valuable product to
customers
SELLING OWN BRAND
ADVANTAGES• High margins• Freedom in pricing
strategies• Control on quality• Control on scrap and
wastage• Helps in market expansion• Adding value to the
customer in giving low price• Very few players are into
manufacturing
DISADVANTAGES• “just another brand”• Underestimate competitors• Customer giving preference to
established brands• Private labels cannot be
successful without good effective strategies
• Cost is high because production is low
• High advertising to promote the brand
• Potential risk- Failure of product
KEY AREAS
• CHEAP- WINNING WITH PRICE
• BIG- WINNING WITH DOMINENT ASSORTMENT
• HOT- WINNING WITH FASHION
• EASY- WINNING WITH SOLUTION ORIENTED SERVICE
Westside Retail Model
Marketing Research
Retail Layout
Product And Positioning
Advertising And Promotion
Customers Feedback
MARKETING RESEARCH Conducted marketing research before
entering in new city. Collected information on population,
buying patterns, demand potential, lifestyles etc.
After conducting research it was observed that ratio of both store own brands and other brands was 30:70.
It was also observed that Indian retailers suffered on account of poor economics and investment in brand building as compared to the international retailers.
Westside took support from various Tata companies like Taj Group , Titan, Voltas, Tata AIG Tata Engineering to gather the details about the consumers.
RETAIL OUTLETSStrategy Westside decided to push its own brands to earn
high margins as they had more control over the manufactures, quality and distribution.
By selling the products under westside brand, the company was able eliminate intermediaries and hence intermediaries commission was saved that leaded to higher profits.
Problems Faced Expensive real estate: To save costs on real estate,
westside decided to get shop-space on lease. Difficult task to find spacious locations in
showrooms in metros. Westside adopted a free form of retail outlet also
known as boutique outlet.
Contd.
StocksEach store on average stored
30,000 SKU’s of different products.
Merchandise sourced from 250 exporters from Delhi , Mumbai and Bangalore.
Centralized buying for all products except cosmetics and perfumes to avoid sales tax.
COMPETITIVE ANALYSISSTORES SHOPPPERS
STOPLIFESTYLE WESTSIDE GLOBUS
POSITIONING EXCELLENT SHOPPING EXPERIENCE
TRENDY, YOUTHFUL & VIBRANT BRAND
STYLE &
AFFORDABILITY
EXCELLENT SHOPPING EXPERIENCE
FORMAT TYPE
MULTI- BRANDS {BRANDS & PVT LABELS}
MULTI-BRANDS EXCLUSIVE TATA TREND GROUP ONLY
BRANDS AND PRIVATE LABELS
PITCH Shopping experience
Latest fashion Affordable Style
LATEST FASHION AND STYLE
Target Customer Affluent Customers
AffluentConsumers
Middle Class Upper Class
PROMOTIONAL STRATEGIES
• Two parameters: style and affordability
• External communications through advertising
• Great shopping experience• Based on theme like mix and match
, live bands and other attractions• By giving scratch and win cards
during festive season• Advertising contract with leading
personalities• Offered CLUBWEST loyalty cards
FUTURE OUTLOOK• Greatest challenge to beat the
unorganized sector as 98% of India’s retail garment industry operated in unorganized sector.• Main focus was to get people
visit instead of unorganized sector• Making customers realize that
Westside give latest style at very good prices
THANK YOUMADE BY ANKITA SHARMANEHA SHARMAISHA RANA