<\/a>Bindra was clear from day one that his brand Seven East would not cater to the mass but yet it would be in the ‘niche affordable’ category. The confidence stemmed from the fact that he clearly saw the 2002 consumer graduating to another level in 2016. He explains, \u201cThe aspiration levels that you had just a couple of year ago are very different from what you want today. Technology and the convenience to travel have contributed to a very different ‘you’ and that is the ‘you’ we wanted to cater when we started with Seven East. In India, it is more about the ‘product’ and not so much about a ‘brand’. If you have your product right, getting customers to be loyal to your brand is easy.\u00a0 When I started work on Seven East, the team was small but we were very strong. It was a team which had worked on brand BIBA so they were well aware of the nuances of the business and also all the mistakes had already happened so it was just about putting all the learning into place. Also, considering Indian ethnic wear is catching the fancy of people across the globe, I was certain of spreading my wings internationally as well.\u201d<\/p>\nBindra was confident about his product but retail brands in India remain paralyzed owing to real estate price and scarcity when it comes to quality space. Sharing an insight on how he overcame the challenge, Bindra shares, \u201cI knew that the ethnic wear market for women in India was and is one of the most promising and untapped category hence I wasn’t too stressed with regards to doors not opening for me.\u00a0 The challenge was more to do with aligning the vendors once we reached a particular scale. We were quick to open about 18 stores but soon realized that we had to keep a check on our back-end before expanding further. In the process, we decided to shut operations of a couple of stores too. We also realized that the Indian consumer was ready to ‘pay’ more provided it made sense to her to spend on what she was buying. Hence we worked on offering our collection in better fabrics. The store ambiance was another thing we worked on relentlessly. We had a German and an American architect work on the design which was then executed by an architect from India. From the lights to lux\u2026each minute detail was taken care of especially since we decided to go against advertising. We wanted our stores to create a niche for the brand and let our customer carry the experience with her wherever she went. Initially I offered the mall developers a premium to seek a particular positioning for my brand in their mall.\u201d<\/p>\n
Bindra had no qualms in spending a premium on getting the store and the merchandizing in place and at a go opening close to 18 stores. He says, \u201cEthnic wear is such a magical category that everyone wants more and more of it and there is enough room and space for more players to come and join the bandwagon.\u201d For Bindra, capital was not a problem hence he opted to open his stores at prime locations. He also joined hands with Madura and was the first brand for Indian ethnic wear for women for their stores \u2013 Planet Fashion. Taking one thing at a time, Bindra didn’t fancy having a big team or investors in place as according to him, all the basics were well in place. Sharing further on this, he says, \u201cThe design team knew well what the pulse of the market was, the tailor we had was ex-BIBA and he didn’t need two other people sitting on his head to tell him what to do and what not to do. I wasn’t in favor of welcoming investors as I didn’t want any undue pressure. I was and am happy expanding the brand at my own pace.\u201d Elaborating on this further, he says, \u201cFunding at the right valuation is always welcome. However, currently retail is going through a major churn and we don’t want to raise money right now. This is a good time for us to consolidate our merchandise offering and add more stores in good locations.\u00a0 We will not be looking at a deal size less than `30 crore, whenever we decide to raise money.\u201d<\/p>\n
Talking about marketing, as mentioned earlier, since the launch of the brand, Bindra decided to go against vanilla advertising. He prefers advertising only when he has a theme. For example \u2013 his soon to be launched collection dedicated to 100 years of Bollywood. Bindra also plans not to go with the tide and have discounts running every 4-6 months. \u201cI would rather price my product smart and not have a dead inventory. Today, customers are no longer getting amused and attracted by the 50 per cent sale phenomena. Some amount of creativity here could perhaps come to rescue. For e.g., I can have a special line and then send a communication to my loyal customers announcing perhaps a three hour discount. This would actually entice the customer to take my sale on a serious note.\u201d Currently, Bindra runs no loyalty scheme for his customers but they have relationship marketing where they make personalized calls to customers inviting them when there is any limited edition \/ exclusive collection launched at the store. Alterations are offered not only at the store but also the MBOs and home delivery is extended on request. The average ticket size is approximately\u00a0\u00a0 ` 2500\/- per customer currently.<\/p>\n
<\/a>A recent activity that forms a part of their marketing portfolio includes a tie-up with IIFA to bring a range of designer-led Bollywood inspired clothing to the market. Seven East is the only ethnic wear partner to the hundred years of Indian cinema. Andre Timmins, director, Wizcraft International said, \u201cSeven East shall be our official ethnic-wear partner for the IIFA Glitterati line. This collection will deliver a slice of the glamour and heritage of Bollywood to the fans of Indian Cinema. We will elect only best designers to execute this line for us.\u201d For Bindra, the product has always been the driving force. With the 100 years of Indian cinema line, he will present a very sellable product line, showcasing what women on the silver screen have worn in the period 1914-2014.<\/p>\nBindra comes across as an individual who listens to his heart and gut feel instead of taking into account the moves made by his peers in the industry. From taking a bold step of walking away from his earlier venture, to going ahead and launching a brand in the same category and spending a premium of about 30 per cent more on creating the right ambiance for his store to refusing investments being made by Venture Capitalists to take his brand to the so-called next level, he done it all! so far, all the decisions undertaken by him have paid off well and the future for Seven East definitely seems exciting!.<\/p>\n
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