Private label brands are owned by retailers rather than manufacturers. They are also known as store brands, corporate brands, or retailer brands. Private label brands have grown due to offering lower prices than national brands while maintaining quality, providing higher profit margins for retailers, and gaining consumer confidence. In India, private label brands make up 10-12% of organized retail. Their growth is driven by retailers' needs for differentiation and margins as well as independent pricing strategies and brand equity. However, private labels also face challenges like higher inventory and R&D costs and potential damage to a retailer's image if a product fails.