Landmark Group’s youngest and most trending format, Easybuy, needs no introduction. The brand, since its inception, has been on a growth spree. The brand started its journey in 2014 with a clear mission to serve Neo-India, the biggest consumer segment of India, who are very aspirational and yet value seeking. Easybuy opened its first store in Karimnagar, in Telangana, to test the format and received an excellent response. The rest, as they say, is history. With a mission to make aspirations affordable for the entire family, the fastest growing value fashion retailer is poised to cross the milestone of fastest 100 stores by 2020.
In an exclusive interaction with IMAGES Retail, Anand Aiyer, SVP & Business Head – Easybuy (Max Retail Division), talks about the successful journey, objectives and future plans of the brand.
Why and how, in your opinion, is value retail fashion emerging as a high profit business?
The ‘why’ has got a lot to do with the pace, quality and amount of exposure that Neo-India has access to. The penetration of internet coupled with a natural upward social mobility is affecting tastes and preferences across all categories and fashion is not an exception.
While customers have started to want and ask newer and trendier styles of fashion, they still expect it not to cost them a lot. This dichotomous yet justifiable pattern in behavior is seen across large parts of India but has very limited supply currently available to such a demand. Thus, the potential of value fashion is exponentially high across the country which reflects in Easybuy’s success journey.
Profitability in value fashion is purely a derivative of efficiency across the value-chain and not just by volumes. Because it is very complex to achieve, only a handful of Indian players have managed to achieve it and we are one among them.
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Denne historien er fra January 2020-utgaven av Images Retail.
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