Feathers in the Cap

From Rs 5 lakh to Rs 90 crore and now targeting the 500 crore mark - the Brothers Kapoor have come a long way in less than two decades. A profile by Ranjan Kaplish.

It was in 1989 when brothers Vipin Kapoor and Darpan Kapoor, basically in the construction business, were looking to diversify their family business and try their hands at something more challenging and promising. The business of fashion retail was beginning to show some signs of activity. And, with a sum of Rs 5 lakh and no prior experience of the industry, the duo plunged into it. The first store, named Playboy Fashionsport came up at a happening marketplace in Chandigarh . The store stocked everything – from formals to casuals, party to traditional wear. The right productline and product mix gradually made it the favourite shopping destination for the emerging fashion conscious generation.

Gradually, the small Playboy Fashionsport was transformed into today's 7,000 sq ft Kapsons. The duo was now a team of four – Vipin Kapoor and Darpan Kapoor along with their wives Dolly Kapoor and Nishi Kapoor. Vipin took charge of the merchandising and buying, Darpan handled the general administration and accounts. Dolly took care of the fashion and styling division while Nishi took on the vital role of customer care executive. “It was Nishi, whose ability to plan, execute and manage resulted in the phenomenal growth of the company. With allround expertise in business administration, banking, finance, trade and commerce, she created a strong foundation for the establishment to grow and prosper,” Vipin Kapoor, MD Kapsons Group, told IMAGES BoF.

Retail presence
Kapsons now claims a turnover of over Rs 90 crore, steadily growing at over 40 per cent. The group has similar retail formats in major towns of Punjab . Chandigarh being the capital of two states and a country leader in terms of human development index has the Kapsons' flagship store. At present it is in 7,000 sq ft and would soon expand to over 16,000 sq ft. The outlet claims around 3,000-4,000 footfalls a day, which is the highest as compared to the other Kapsons stores. “ Chandigarh has an organised and efficient governance. It is an ideal tourist destination as also the wealthiest town with highest per capita income. All these factors together make the Chandigarh store, the maximum business generator.” The city is also deemed as the next information technology hub, and also has the highest potential for growth which ensures that Chandigarh has that huge customer base and we only have to streamline it ,” said Vipin.

The Kapsons Chandigarh store in the Sector 17 Plaza is an open shopping precinct wherein one can buy anything from shoes, apparel, jewellery , fabrics, and is also the favourite window shopping destination of Chandigarhians. This shopping destination is at par with the Connaught Place in New Delhi with EBOs of brands like Tommy Hilfiger , Nautica, Esprit, Benetton, Dockers, Levi's, Reebok, Nike, Addidas, Pepe… The city with its central location and easy reach helps all the brands to penetrate in other regions like Himachal Pradesh, Jammu & Kashmir, Haryana and Punjab . The Kapsons' customer in Chandigarh is very choosy and prefers to buy clothes which are generally in fashion. People here buy almost all throughout the year but in very small quantities, which are 2-3 pieces of garment in a year. The choice is very basic in fashion and they do not pick either loud designs or colours.

The next city to see Kapsons was Amritsar . As there were no recognised multibrand stores and other shops were of 500-800 sq ft, Kapsons had an edge. The store spread across in 7,000 sq ft and moving on to 12, 000 sq ft attracted most of the NRI population in town, which has a huge buying potential and likes to splurge on apparel and luxury. The international airport and the Golden Temple attract a lot of tourists to the city. These travellers are also targeted by Kapsons. The store sees over 400 footfalls in a day. Amritsaris unlike Chandigarhians prefer fads than fashion. The customers likes to buy funky clothes in bold and loud colours.

After dressing up Amritsari NRIs, Kapsons moved on to cash on the wealthy population of Jalandhar, where through its biggest outlet of 12,000 sq ft, it caters to the needs of a young crowd from the state's leading colleges and universities. This store too is expanding and would soon spread up to 16,000 sq ft. The buying behaviour of customers of Jalandhar is similar to Chandigarhians. Around 600-700 Jhalandarites visit Kapsons daily for branded apparel with minimal highlights and basic and earthy tones.