Fashion is one of the most challenging retail businesses to run. The product lifecycles are short and lead times longer. Trends that used to be seasonal are now insta-trends. In today’s connected real-time world, consumers are more aware and ahead of brands and retailers, making it a catch up game. They are increasingly demanding and expect more choice than ever before.
Gone are the days when one marketing strategy could be applied to all consumer segments. Today, the attention span of consumers is reducing, as they expect faster deliveries and increasing product innovations.
To match consumer expectations, five leading fashion retailers have introduced these innovations:
1. Myntra: Rapid
Rapid – Myntra’s in-house, data-driven Intelligent Fashion initiative – is reimagining conventional fashion designing and manufacturing processes by using advanced Data Analytics and Artificial Intelligence to create fashion. The program uses data gleaned from Myntra and Jabong, leading global fashion retailers, influencer networks, trend setters, fashion bloggers and social media as valuable fashion insight. This analysis is then used by Myntra’s fashion team to churn out in-vogue designs.
The Rapid engine has been responsible for creating some of the most profitable and fastest growing brands for Myntra’s private brands business and some of the largest brands in India. The platform provides, in a very visual manner the following:
1. The platform has access to data from global sources – from retailers in India, Europe, US, Asia as well as top social media portals and influencer channels
2. The platform provides brands/ retailers deep insights in comparison to a machine determined (though customizable) affinity market – determined based on user browse behaviour. This highlights what’s working well for them, what’s not and where are the opportunity areas in market at an attribute level
3. The platform also provides design recipes – detailed and specific insights into the ingredients of a successful design, provides insights on what could make a top-seller and what to avoid preventing a bottom seller
4. Gives insights into option plan – how much to bet on which trend driven by highly effective data science algorithms
5. Presents a detailed view of the fashion trends as seen in social media, fashion blogs and runways along with tons of highly relevant images for the trend for each of the article types
The platform is used internally by Myntra to create brands and is also available as a SaaS platform Vorta that can be used by any of the global brands.
2. Raymond Khadi
Raymond Khadi is a differentiating product which was made possible by working in hand with the artisans throughout India to share design knowledge and also to upgrade their skills. It signifies the value addition done to the entire product and the value chain making it a sustainable choice as per the market trend.
Raymond has developed Khadi in wool, silk, cotton, wool blends, cotton blends and silk blends. The brand has worked with more than 100 clusters for the design and product contribution and its expertise in product development, quality and designing have transformed Khadi – Khadi with a twist of unique fusion of fashion. This has opened great opportunity for wool in domestic and international market.
Raymond Khadi re-spun includes superior jacketing range in 100 percent Merino wool with elegant look and gentle handle which is incomparable to the market Khadi.
The classic checks in solid color palette, harris tweed, herringbone, hound’s-tooth design range represents the beginning of contemporizing the traditional Indian craft in tune with the fashion trends in terms of colors, design, feel and finish.
Luxurious range include khadi shawls crafted from noble fibers like Pashmina, in colorful shades and exciting designs. The design palette includes checks, micros and solids.
3. Sygnal
Sygnal is the next generation smart wearables fashion technology brand specialising in integrating the most sophisticated of technologies into the most creative designs of clothing to ultimately change the way fashion is worn today.
From the creators of ‘World’s first touch enabled T shirt’, the product line now boasts of smart fitness tracking t-shirt, touch enabled and programmable t-shirt, glow LED clothing for women, men and kids, smart accessories and more.
Sygnal specialty wear also designs products for various corporate industries such as sportswear, safety wear, promotions and advertising industry, uniforms, specialised industrial wear, bag packs, home furnishings and more.
4. Birla Cellulose
The pulp and fiber business of the Aditya Birla Group, commands a major world market share in the manmade cellulose fibre domain. A study of the Indian market, User & Attitude Research by Quantum in 2013, revealed that even though consumers liked the feel and comfort of viscose, they were not aware that they were made from viscose or its blend. The awareness of viscose was low as compared to cotton, polyester, wool and silk. The business saw an opportunity to create awareness and desirability for the fiber among consumers thereby generating demand and decided to grow the market.
Thus, began the journey of brand Liva – a consumer facing brand. Consumers experienced the brand in the form of fabrics in garments that they wore whereas the business was all about making fibre. The challenges were manifold, since the business was four steps down the value chain to the consumer but desired to engage the consumers through brand Liva. To address these challenges, four pillars were created towards delivering Liva.
– Innovative fabric and garment designs and blends were created for designers and brands to adopt
– Partnered with value chain (fabricators, spinners, weavers and processers) to support them to deliver quality fabric. Seed viscose and its innovations amongst fabricators and hub partners.
– Influence and partner leading brands and retail to deliver the promise
– Develop and launch a fabric brand that was built on a researched consumer insight
5. Deal Jeans
Deal Jeans has always been apart from the competitor brands in bringing designer denims to the market every season. From interesting finishes and unconventional cuts to modern, size-inclusive labels, Deal has always been working on its innovative concepts to enhance its product experience.
This season is shelved with patch work in shades of blue, studs and pearls with ripped embellishments which are giving a unique twist to what is offered in this season followed by lace-up jeans making their return from the early ages, frayed and uneven hems with cropped flare are adding that perfect amount of edge to the casual pair, embroidery is trending with floral designs embracing femininity and patch work designs played with contrasting blue colors are making a statement this season.
This season’s color palette is lighter to darker shades in emerging bright and pastel colors. The collection is themed on giving that chic, style-setter look be it for travel diaries, office wear or making a statement at evening soirees.
