TEAM HERALD
PANJIM: The Indian apparel market is ripe for change and the next couple of years could witness an overhaul of strategic direction with the domestic market being the focus of local and international players.
Paolo Briatore, MD of Inivista India, owner of the Lycra® fibre brand and one of the world’s largest integrated producers of fibres and polymers said this during the course of an interview with the Herald.
The intimate apparel market he said in the country was valued at Rs 18,000 crore and was growing at approximately 15% every year. It is estimated that this market will be estimated to be worth Rs 60,000 crore by 2020. Asked why would anyone want to partner with him given that his technology was more expensive when compared to the other players in the market, he said “This is a very price sensitive market and yes there are people who may think twice but those interested in the long term future will use our technologies. Please remember use our technology and there is a Rs 1 reduction in the cost of a bra which is substantial”.
The company, he said, wanted to be a solution provider and when asked what were the numbers posted by his company in the last financial year he claimed that since it was a privately held company they were not required to divulge such information.
At the Galleria Intima which was held at a local hotel, the company announced a new brand strategy for its Lycra® fibre. The initiative encompasses an engaging brand positioning, brand architecture and the “Lycra®moves you” consumer message in an exciting evolution of the Lycra® fibre brand. Invista entered India in 2006, although one of its well-known fibre brand, Lycra® has been selling in India since 1995.
This campaign will focus on the three key consumer benefits associated with the Lycra® fibre brand, Freedom, Comfort and Movement. In India, Invista will focus only on Lycra® brand for comfort, freedom and movement at the consumer level. This new brand architecture, when implemented, will ensure that the Lycra® brand message is extremely clear and focused when used at the consumer level.
