The apparel market in India is evolving. Consumer tastes and demands are advancing at a fast pace. They want contemporary fits and styles and one homegrown brand which is giving them all this and much more is Prisma. A premium product from the house of Poomex, Prisma caters to both men and women in the sportswear, leisure and essential wear segments. It is one of the fastest growing companies in the category.
With a state-of-art facility at its disposal, the focus is on creating an international benchmark with originality, great styling and the best of quality.
In an exclusive chat with IMAGES Retail Bureau, Executive Director Prisma, Ajay Kumar Jain, talked about the origins of his brand, opening up of exclusive stores and the company’s e-commerce focus.
“Prisma originated from the city of Tirupur in Tamil Nadu. It’s a part of Poomex Group, a company which boasts of a 40-year-old legacy. Prisma started around five years ago and we are catering to the outerwear garments category for both men and women,” he said.
“We have recently entered into the retail market and are working to expand our reach. We are opening exclusive stores for men and women. A couple of flagship stores are also in the pipeline,” he added.
As of now, Prisma has five stores down South, five in Mumbai and one franchise outlet in Pune. All of these are exclusive brand outlets. The brand is also looking at opening five more franchise stores in Gujarat.
“We are expanding carefully – going region by region. We have made our presence felt in the Southern region with five EBOs and 3,500 MBOs and now we are slowly inching up, exploring the market for EBOs, MBOs and franchise outlets,” Jain said.
The Prisma management is also working with many consultants in the retail sector – top levels experts from companies like JLL, Shoppers Stop and Raymond – who help the brand take its business forward in an intelligent manner.
“I think our brand evolution comes from the fact that we focus on quality, and our customer – in the sense that our product is designed keeping the customer’s needs in mind. That’s the only way to stay ahead in a market which is seeing a lot of players coming in and in which huge amounts of capital is being invested,” Jain explained.
In the next phase, Prisma will be focusing on the North Indian market. By the end of 2017, the brand aims to have between 10 and 15 stores across the nation with fresh plans for 2018 underway.
“We prefer to open stores everywhere – malls and high streets. We have around 40 distributors across the nation who help us identify the best locations. One of our flagship stores is located in one of Tirupur’s premium high streets. Currently we are focusing on malls where we are assured of walk-ins and increased sales,” he stated.
While the brand has yet to develop an Omnichannel strategy, the management understands that an amalgamation of offline and online is the future of retail and expansion into e-commerce is definitely on the radar.
“So, although we don’t have an Omnichannel strategy yet, we are well on the way to planning and implementing one soon. For the time being, our products are available on some e-commerce sites and we are looking for more exclusive sites. We also have our own website, http://myprisma.in/ where patrons can go and purchase our products,” Jain said.
Prisma is currently doing Rs 80 crore worth business from its stores.
“Since we are almost doubling our turnover every year, we hope to take this figure over Rs 150 crore by 2018 end. We also hope to take our revenue from the digital medium to between 5 and 10 percent of our annual turnover,” said Jain.
He stated that his brand was not bound to any particular category and that they were “very focused on category expansion”.
“We will be coming out a complete new range of products very soon,” Jain concluded.