In this technological age, even luxury brands, epitomising high end fashion and style, are investing heavily in research and development. Consequently, they are introducing innovative products amalgamating luxury and technology. The aim is to forge a bond with Generation X, updated on the latest and fanciest cars, mobiles and fashion brands. Adopting this is Cross, a writing instrument brand established in the 19th Century, which converged technology and a luxury wallet by introducing Cross Grabado Tech + Wallet in the upcoming India Fashion Forum in Mumbai.Yashovardhan Gupta, founder of Torero Corporation, which has bagged exclusive global license for Cross leather accessories in 2012, gives an insight into the brand’s strategy to produce this product.
How does the new technology protect consumers from not getting robbed?
The product is encoded with an integrated bluetooth tracker, which seamlessly syncs with the free to download Cross Tracker App which is available on iOS, Android. Once a consumer purchases the product, they pair their leather accessory with the app. Once paired, the wallet can be tracked on one’s mobile or tablet. The tracker and the app enable a person to find out where his wallet was stolen and if the thief is still using it then he can be identified.
Is research and development in technology essential to reach out to the Generation X?
Generation X consumers are acutely aware of fashion, technology, trends and ratings. The latest fashion trends, the quality, ratings as well as technological compatibility of the products have fast become attributes a successful product must have. Therefore, we have exponentially increased investment in research and development to better understand what consumers seek.
With an increasing number of Delhiites travelling in public transport like Metro and DTC buses only a miniscule number carry wallet. So how do you think this wallet will be a sought after item in India?
We understand that India is a price sensitive market. Therefore we have decreased the price 50 per cent of what is sold globally. But we have not compromised on quality as Spanish leather has been retained. We have no plan to use cheaper Indian leather.
What was the need for a luxury brand to foray into technology?
With more than 25 patents, Cross has always believed in creating products which provide a perfect balance of luxury and utility. This was a similar initiative, where we combined the highest quality Spanish calf leather, with the latest technology to create the anti-theft, loss-proof smart leather wallet.
