Here is the Business Strategy of French Fashion Brand Lacoste in India for 2013. The idea behind establishing the Polo Lounge concept was to reinstate our roots by completing the brand cycle where we started off with polos for men and then brought in women’s wear, children’s wear, perfumes, accessories and bags. With the Polo Lounges, the wheel has come full circle for us. Lacoste Polo Lounge concept store at Mumbai’s Palladium Mall is latest in the country. One more located at Bandra which is also doing well. It was opened around three months ago in tribute to Rene Lacoste who was responsible for designing the very first polo shirt way back in 1927. Lacoste has been associated with polo shirts for about eight decades now, and these comprise our main product category.
Lacoste Polo Lounge – why only in Mumbai ? Mumbai is one of the most important cities. Within Mumbai, Bandra is the only place with a high street of a decent size, hence the location to set up our first Polo Lounge store. The Polo Lounges have to be of a smaller format because of their design. Instead of setting up a new store in the city, the existing outlet at Bandra was ideal for the purpose. It is already popular, and has loyal set of customers who keep coming there. The 500 sq.ft. Polo Lounge at Bandra has a “polo bar” that houses around 40 colours of polos, and a “polo wall” that showcases the available fits – regular, Italian, and stretch. Our customers loved the concept so much that even during the end-of-season sale that we held there, they demanded fresh merchandise in keeping with the store and its ambience!
Live Lacoste Concept Stores Apart from Polo Lounge they also have Live Lacoste in the Select Citywalk mall in Delhi. This concept caters to the young generation from 18 to 30 years or those who are young at heart. The garments are more fitted and have different silhouettes and styles. They are more fashion contemporary than our regular apparel. Lacoste International has around 50-60 Live Lacoste stores world wide. They’ve also come up with a concept called Abora, which is the Latin word for a space with small shops.
Lacoste’s Plans for IndiaThey currently have around 40 stores in India in a combination of Exclusive Brand Outletss, flagship stores and shop-in-shops. They plan to grow to 61 stores by 2014. Finance-wise, in the year 2011, plan was to double costs and triple sales, and pretty much on target. Sales grew by 33 percent last year. This year growth is expected to touch 35-40%. By 2014 sales will be triple from the 2011 level with double the costs.
Lacoste is also working on Long term Customer Loylaty Programme. In the next part, we’ll see how Lacoste establishes Stores, RoI per Store and how it chooses the location, something a retailer who wants to be a franchise of Brands must know.