The Future Group is reinventing 15 private labels of its retail arms Big Bazaar and Pantaloon Retail into power brands, positioning them nationally as stand alone stores. The group has 10 private labels in fashion retailing alone and many others in the home furnishing and furniture segment.
As part of the strategy, Future Brands, the entity set up to spearhead the company’s new branding initiatives, has been given the licence to relaunch private labels as stand alone stores with new branding, communications strategies and advertising campaigns, across the country, Santosh Desai, CEO, Future Brands told FE.
According to Desai, ?The aim is to create a ?brand pull? strategy for 15 private labels and define brands on the basis of compelling consumer needs. With the move, Future Brands will provide capital expenditure to build private labels as power brands which will be to the tune of Rs 60 crore to Rs 100 crore and thus provide incremental value for the private labels of Big Bazaar and Pantaloon Retail.?
Desai added, ?We have recently acquired internationally renowned `Buffalo Jeans’ brand which we will be launching as a power brand in India soon. We are planning a calendar of retail activities for the Dreamline power brand and new advertising campaigns in the next two months for Buffalo Jeans brand as well as the other labels.?
On the power branding strategy, Future Brand is also planning to create emotional space in consumer’s mind by offering huge discounts and larger retail space along with new merchandising activities.
Rajan Malhotra, chief executive officer, Big Bazaar said, ?Big Bazaar is giving licence of its private labels like DJ&C, Knighthood and Dreamline to Future Brands for setting up stand alone stores, while Pantaloon Retail is transforming John Miller and Bear as power brands. Fashion retailing contributes about 41% of total sales. Big Bazaar has bought over 160 properties to cater to its expansion plans from 66 to 100 hypermarkets by December-end 2007.?