Megamart, a value retail chain from the house of Arvind Brands, wants to drop its "all-men" image in order to woo women too. In this regard, it has reworked on its product portfolio and increased the share of women apparel.
"Having gained a very comfortable position in menswear, the next logical move is to expand into women’s accessories. Hi-fashion handbags, belts, scarves, hair accessories, wallets, perfumes and jewellery, junk as well as semi-precious, will complement the new range of offerings from brands like Karigari, for women’s ethnic wear, and Miss Cherokee, for women’s western wear. The focus is to keep the offerings fresh so that women customers find something new on each visit," explains J Suresh, CEO, Arvind Brands (Brands & Retail).
The women’s apparel section currently has around eight per cent share in the total sales of Megamart. With the introduction of women’s acessories, Megamart expects this figure to double. Not only this, it also intends to alter the perception about Megamart from being a men’s destination store to a family store.
Suresh says around 15 per cent of the floor space (300 sq.ft) will be allocated to the women’s range in the small format. The space allocation for the new range at the Megamart small format will be based on the availability of space within the existing store, location of the store and potential for new business and competition. In the big format stores across Bangalore, Chennai and Pune, though, the space allocated will be closer to 25 per cent of the floor space to justify the display of the complete range offered across the women’s category — 10,000 to 12,000 sq.ft would justify the range.
Women apparel range will be first introduced in Bangalore and Chennai because they are Megamart’s strongest contributors to the kitty. Later, the range will go out in a phased manner based on the size of the store and the opportunity to attract the right customer profile.
"We are looking at a specific marketing campaign focused only on women. We not only plan to announce the introduction of the new range of women’s accessories but also the new line collections from the existing women’s apparel brand. Strategic communication, both mass media and BTL, will ensure that we get fashionable working women into our store and let the product range and price do the talking," Suresh says.
Megamart is planning to add an additional two lakh sq.ft — 40 to 50 stores — this fiscal.
— Shubhra Saini