iD to go for expansion, target youth
ID, AN in-house brand of M&B Footwear (P) Ltd, is going for a major expansion both in terms of reach and product range. Growing at an impressive rate of 35-40 percent, the brand targets today's youth ?who are trendy and aspire to opt for a product that is little over the edge and aggressive in its look and feel,? says iD brand head Vikas Bagga.india Updated: Nov 26, 2006 15:39 IST
ID, AN in-house brand of M&B Footwear (P) Ltd, is going for a major expansion both in terms of reach and product range. Growing at an impressive rate of 35-40 percent, the brand targets today's youth “who are trendy and aspire to opt for a product that is little over the edge and aggressive in its look and feel,” says iD brand head Vikas Bagga.
Talking to Hindustan Times during his visit to the City on Saturday, Bagga said that the parent company had opened 21 exclusive ‘Walk-in M&B’ stores in the country including one in Indore and plans to take this number to 50 in the next six months.
The company has currently introduced ‘Fall Winter Collection’ that comprises13 new styles, each of them available in two to three colours. “The brand in general and new fall winter collection in particular is being actively promoted through aggressive media blitz,” he said.
When asked what makes iD brand different, Bagga said the brand positioning is different and its target audience is well defined. “Being a late entrant in footwear industry, we knew that if we target the cluster then we would not be able to make our mark; our brand-building concept revolves around understanding of consumer perspective, mind set, aspiration level and designing a product that aligns with that mind set; being a new brand, we are very conscious of the fact that we have to make an impact amongst our target audience with the product category being youth centric casual”, he said.
The response so far, Bagga said, has been very encouraging. “Importantly, we continue to adopt a leadership stance in the subcategory developed by us and would like to be recognised as a cult brand amongst our existing and perspective target audience”, says Bagga.
Adding glitter to the venture is youth icon Zayed Khan, brand ambassador for iD, who recently inaugurated the first exclusive iD store in the country in Mumbai. The company plans to open more such stores in coming months beginning with the metros.
iD has also introduced select accessories, such as belts and socks, and the collection has been put together by in-house design team of iD. It also aspires to introduce the women's range in April-May 2007. M&B Footwear has state-of-the-art manufacturing facilities, one each in Noida and Baddi (HP) producing one lakh pairs per month. The company is targeting a turnover of Rs 110 crore for this fiscal.
And who is the nearest competitor for id? “There is no brand per se, just some players trying to copy us”, quips Bagga.