3. The Brand- Fremina
The name is the portmanteau of two words Free and Femina to address the
needs of the Free Indian Feminine who is young and in search of
affordable fashion for everyday use.
Target Market
From the profiling , the target customers are
Urban women- in Metros and Tier 1 cities for stores
Online channel - Pan India
Age group- 22 to 40 years
Value, affordable fashion buyers
Everyday usage
Customer Profiling parameters
Behavioral: User Status, benefits sought
Demographic: Income, Age group
Psychographic: Opinions, activities, lifestyle
Buying condition: Purchase location, who buys
1. Rising per capita income-
average income in India is
rising by 10 percent
2. Rising Urbanization- 42% by
2030
3. Younger population
4. Dropping dependency ratio-
35% in 1991 to 28% in 2016
India Facts
Market opportunities in
Accessories
4. Market analysis
Fashion Accessories can be broadly divided into four categories
Apparel Accessories
urban Indian market - Rs 12 billion in 2012
57% of the market is unorganized
Purchase location- traditional streets and
neighbourhood markets
Other Fashion Accessories, including Bags, Belts, Wallets etc
Rs 15 billion in value in 2008
Women Handbag Market size by Volume and Value
Fashion Jewelry
• The jewellery market was estimated
around USD 19 billion growing at 15% per
annum
• Fashion jewelry is growing rapidly in
Urban areas
• dominated by the unorganized sector
Time wear
•market for time wear is 42 million units by volume
•and about Rs 27 billion by value
•growing at 10%~15% per annum
Eye wear
•market is estimated at Rs 15 – Rs 18 billion
•growing at 15% ~ 20% per year
•10% of the market is organized
5. Competition Analysis
Unorganized Sector
Lower quality
Cheap products
Preferred by Lower income groups
Organized Sector
• Many Apparel retailers have moved into
accessories space
•High growth in this segment has attracted many
players like Fastrack from Titan
•Conventional players like Shoppers Stop and
Lifestyle stock National brands and Private labels
•But most of these are expensive
Online or E-commerce portals
• It has become popular among tech savvy young
• People from tier 2 and 3 cities who do not have
access to stores are flocking to this medium
• Large choice available at finger tips
• But no touch and feel experience and
standardization
Competition is from three quarters
6. 3 Way Strategy- Product Portfolio under Fremina
From secondary research on about fashion accessories on E-commerce sites, the following are the
conventional products being sold. So Fremina should have these in its portfolio because it already
has the expertise of all these from its global Pieces Brand. The launches have to be in phased manner
which is explained in timeline section later
Carried accessories
Handbags – Clutches,Tote Bags
Worn Accessories
Jackets, shoes, sunglasses, belts, Fashion jewellery, wrist bands, watches, shawls, scarves, socks and
stockings
Suggested: to introduce Leather Phone covers and Fashion Umbrellas- These products are not available in
most ecommerce as well as large stores
7. 3 way Strategy( Contd.)- Pricing Strategy
In the initial year, price the products at cost to attract people to the brand and also to attain
brand recognition
To test the market in the first year, the products need to be priced at value for customers
Online pricing needs to be in par with similar competitor offering in the first year to drive
traffic to our brand.
High Value products like Watches and Eyewear to be introduced in the 2nd year after the
brand is stable to charge a premium.
Loyalty schemes for frequent purchasers to reward and retain them.
8. 3 way- strategy( Contd.)- Channel Strategy
Direct Channel - Own
Store
Set up ‘Accessories’
space to sell it
For up-selling, place the
accessories next to
suitable products
Ex. Scarves next to the
dresses it matches with
A fashion expert to give
relevant suggestions and
fashion tips
Indirect channel -Departmental
stores
As it is going to be a separate
brand, it can be placed in
accessories division of large
retailers like Shoppers Stop and
Lifestyle
This will give it exposure to large
number of customers who flock
to these stores to experience
wide variety
Web Channel- E- commerce
List the products on
Midlevel Fashion e-retailers
like Myntra and Jabong to
reach to places where the
first two channels cannot
reach
Also setup online store of
your own and keep engaging
your customers through
Social media
9. Marketing mix
There are two objectives that need to be achieved by the marketing mix
Visibility
Specific to target customers
-Sponsoring Institute Fashion
competitions
- Ads in prominent Fashion
magazines
- Gift vouchers
- Online ads on Facebook and social
media
Engagement
- Loyalty program by tying up with
Payback Loyalty
-Social media engagement by conducting
contests on FB etc.
- E- magazine to educate the customers
about the trends and latest offerings in
Store
10. May 2013 Own
Stores-
Accessories
launch
Sept 2013 Web
store
Launch(e.g.
Myntra)
Dec 2013
Departmental
Store
launch(e.g.
Shoppers Stop
Feb 2014- Summer
Launch of Time and
Eyewear
June 2014-
Fashion
Umbrella
launch
Jan 2015- Leather
Phone and Tablet
covers launch
Timeline of events
11. Revenue Projections
Organized retail in India = Euro 170.3 billion
Growth of Organized retail = 10% p.a
Organized retail in 2015-16 = Euro 274.26 billion
= Rs. 15867 billion
Core Fashion Accessories Like Time Wear, Eyewear, And
Jewellery Constitute % Of Organised Retail
Market In India = 19%
Metros and Tier 1 contribution to revenue = 60%
If we consider the Share of Fremina to be of the total = 0.2%
Then revenue of Fremina in 2015-16 = Rs. 361.7 Crores
