ColorPlus Fashions Ltd., a subsidiary of Raymond, has gone in for a quiet re-jig of its retail and product strategy in the wake of a subtle shift in the dress sense of the Indian man.
According to Hetal Kotak, Chief Operating Officer of ColorPlus, Indians are increasingly becoming health and fitness-conscious. The modern global Indian, who has been exposed to international tastes and trends, thanks to the spread of Internet culture and increased travelling overseas, is also playing the ‘influencer’ role, and sets the agenda for the elder members of the family. The growth of the entrepreneurial class and the loosening of dress codes in India Inc, too, have brought about a paradigm shift in the dress culture of Indian men.
These have, according to Mr. Kotak, triggered a move towards tailored-fit wears. The Rs.200-crore ColorPlus has indeed seen the demand for tailored-fit wears go up considerably in the recent past. So much so, around 45 per cent of its revenue now comes from the sale of tailored-fits. Not long ago tailored-fits were contributing to just around 15 per cent of the company’s sales.
Asserting the ‘classic and yet contemporary’ undertone of brand ColorPlus, Mr. Kotak said, “Colour, comfort and craftsmanship” remained the core design philosophy of the company. Besides the tailored-fit, it had in its portfolio classic and sports fits as well. Roughly around 10 per cent of its sales came from sports fits, a new addition. Category-wise, 80 per cent the revenue came from smart casuals, he said. Smart formals and sports wears contributed 10 per cent each to the sales, he added. “The personality of our brand is smart casual,” he said. “We don’t follow every fashion fad. The ability to say ‘no’ to fads is a critical challenge,” he pointed out. “ColorPlus got into tailored-fits a few seasons ago. But it has gained momentum in the last six months,” he added. “The 30 to 45 age group is the core belly of the brand,” he said.
Fielding a range of questions, Mr. Kotak said ColorPlus was going in for a new retail identity. A pilot was on at its store here, he added. ColorPlus would test the concept in each zone, he said. The national roll-out would happen once the pilots were tested for efficacy, he added. “This retail identity is a response to India’s evolving dressing and fashion trends. The store helps customers select a look and not just a product. Products will be the key focus of the new retail identity,” he said. All props at the store were yarn and product-based and not just plain architectural elements, he added. The new retail identity would provide “a sense of space and freedom” to customers.
It will provide
‘a sense of
freedom’ to customers