Men’s fast fashion and casual streetwear retailer Breakbounce is working on expanding its presence and reach in the Indian market by forging right relationships on both online and offline front. Sanjeev Mukhija, Managing Director, Breakbounce shares the marketing strategy, future plans and all about the fashion brand in conversation with Images Business of Fashion.
Tell us about your brand.
Inspired by Dutch craftsmanship and European street fashion nuances, Breakbounce Streetwear forayed into the Indian market last year by tying up with Myntra.com with the objective of making current international fashion available to the discerning Indian.
What is the USP of the company?
What sets us apart from other brands is our ability to identify international trends from the fashion forward runways across the globe and translate them into wearable styles for Indian men. We also focus on value for money without compromising on quality. Our pricing strategy fosters a churn of more designs every fortnight on an on-going basis.
What is the business /marketing/promotional strategy?
We have detailed research and development process to ensure the product surpasses expectations. The company believes in a sustainable phase wise method of growth and expansion. As a brand we don’t indulge in excessive discounting. Breakbounce Streetwear has been very active through social media and brand blog. In fact, we are one the of the first fashion brands in India to actively engage our target audience on the site through blogs. Our approach, our content strategy, and our various social and online initiatives have seen considerable traction and response from the target group where we have seen organic growth in less than six months. Such efforts are working towards a larger and international metric of community creation-onsite, on-ground, and in-store.
What is your assessment of the fashion retail industry in India?
Fashion in India is at a very interesting transition.With more and more international fashion brands making their foray into the Indian market, consumer has become fashion conscious and wants the latest international fashion.
This influx of international fashion brands in India is good for the fashion industry. It creates a competition which ensures that the consumer gets best of fashion. The competitive environment also makes it difficult for brands to prevail if they do not adapt to the changing market dynamic and consumer sensibilities.
One of the most notable innovation in fashion retail over the past few years is the advent of e–commerce and its recent large scale expansio. Its recent popularity has affected a chain reaction in a way the retail segment operates. We see fast fashion becoming more and more relevant as the gap between the brand and the consumer is reduced.
Share a brief on your business module?
Having concluded Phase I (online testing), we are in the middle of Phase II of our expansion through MBO channels. We believe in a sustained and systematic approach to growth where creating a demand is as important as expanding the supply chain. We will be progressing to concept stores, EBOs, and franchisee model in the future. We are currently in the process of working on our flagship and concept store in Bangalore.
What are your product categories and their price range?
The main product categories currently available in India are tees, shirts, shorts, chinos, cut-n-sew pants, cargos, hoodies, sweats, jackets, and accessories. In the coming season you will see additions of footwear, headgear, denims and other accessories. The price point ranges from Rs 599 for tees up to Rs 3,999 for winter wear product categories.
Tell us about your retail footprint and reach in the country.
Currently, the brand retails online in India through Myntra.com, Jabong.com and Flipkart.com. In addition, it is also available offline in leading multi-brand outlets such as Lifestyle-Landmark group, and trade channel partners with predominant outreach across the country. As of now, the brand is available at 30 plus doors across the country and the number is set to grow drastically to 100 plus doors by the end of financial year 2014.
Which age group do your target?
Breakbounce is men’s streetwear apparel brand which is targeting at 20 to 30 year old men. It focuses on the B+ segment of metropolitan demography who is looking at value for money without compromising on style or quality.
What was the turnover last year and expected turnover this year?
Breakbounce Streetwear started its online testing in partnership with Myntra.com in November, 2012 and just activated the MBO and trade channels from AW 2013 onwards. With this initial term of one season underway, we are looking at a turnover of Rs 23 crore for financial year 2013- 2014. The brand anticipates a turnover of Rs 65 crore in financial year 2014-2015.