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1
WILLS
From
Cigarettes
To
Lifestyle
ITC – The Company
One of India’s most Admired and Valuable company
-Market Capitalization: over US $ 40 Bilion
A USD 8 bil...
ITC’sBusinessPortfolio
3
ITC’sBrandsforIndian
Consumers
4
Source: Audited Financial Results, ended 31st March 2015,
http://www.itcportal.com/about-itc/shareholder-value/key-financi...
Wills – ITC’s Cigarettes Business
ITC is the market leader in cigarettes in
India
The Wills brand is estimated to be wor...
Wills Lifestyle – ITC’s Lifestyle Retailing
ITC's share is not more than 4% in the
apparel retail
Top-of-the-line garmen...
Why Brand Diversification?
8
Brand Diversification
High incidence of taxation and a discriminatory regulatory regime on cigarettes in India
The share o...
Indian Apparel Retail
- Category Growth
10
India apparel retail industry value:
$ billion, 2010–14
Source: Marketline
11
India apparel retail industry value forecast:
$ billion, 2014–19
SOU
Indian Apparel Retail
– Growth Forecast
Source: Ma...
WILLS LIFESTYLE
In 2000, ITC entered the lifestyle retailing
space with the launch of Wills Lifestyle.
Wills Lifestyle has...
WILLS LIFESTYLE
Mission:
To be a one-stop, global solution provider for lifestyle
and become synonymous with “Quality Life...
Timeline
14
Entry into Lifestyle
Retailing space –
2000
Wills Sport - 2000
Brand extensions
Wills Classic - 2002
Wills Clu...
15
16
2000
Racy stripes,
Energetic prints
and Trendy
dobbies
2002
New age work
wear, trendy,
innovative, chic
and stylish;
Rr...
17
Product Price Place Promotion
Wills Lifestyle is considered as a brand that is at the forefront of fashion
It positioned itself in the premium category
...
19
Product Price Place Promotion
Exclusive 104 Wills Lifestyle stores across 44 cities
More than 500 ‘shop-in-shops’ in leading departmental stores and mul...
21
Product Price Place Promotion
Online
Store
22
Product Price Place Promotion
Association with country’s
most exclusive & prestigious
fashion event
WILLS LIFESTYLE
IND...
23
Product Price Place Promotion
Loyalty Programme
CLUB WILLS
2
24
Product Price Place Promotion
In 2008, developed a campaign voicing the thought
'The World Wants to be You'
The intent ...
The World Wants to be You
25
26
Product Price Place Promotion
Tie-ups with leading stylists of the country:
Anamika Khanna, Ashish Soni, Manish Malhotr...
27
Product Price Place Promotion
Seasonal Discounts &
Redeemable coupons
5
28
Brand Positioning
Market Segmentation
29
Geographic
Segmentation
Demographic
Segmentation
Behavioral
Segmentation
Psychographic
Segmentation...
Target Group
• Fashion-conscious people
• Class I cities
• Professionals (studying/working)
• Both Men and Women
• Age: 20...
Competitors
It is a mélange
of comfort,
perfection and
elegance.
A global brand, and
one of the best
known in the world,
U...
Competitive Frame of Reference
32
POPs & PODs
POPs
• High Quality/
Comfortable to wear
• Fashion Space
• Premium Pricing
PODs
• Association with
country’s m...
Perceptual Map
34
Fast-Fashion
Style (Time Less Fashion)
Prestige PriceAffordability
Brand Positioning
“ITC's Wills Lifestyle presents a complete
fashion wardrobe that complements every
facet of your persona...
Brand Appearance
RED – “ red carpet treatment “ &
“paint the town red”
(VIP, celebrities or high profile person
& celebrat...
Brand Personality
Synonymous with elegance and style that is effortless and chic, Wills
Lifestyle presents a premium fashi...
Brand Resonance Model
38
Brand Resonance Model
39
• International
Premium Quality
• Vitality
• Superior consumer
value
• Global Standards • Fashion...
Conclusion
All of this has led to:
• Creating a distinctive identity in the premium western
wear market
• "The Most Admire...
References
1. ITC Corporate Presentation, Available at:http://www.itcportal.com/about-itc/shareholder-
value/ITC-Corporate...
References
7. T R Vivek (2004) 'Tobacco ban forces ITC to stub Wills', Business Standard, 21st July
8. Manish Basu (2015) ...
Acknowledgement
43
The Brand Analysis is done under the able guidance and support of
Dr. Sameer Mathur, Ph.D.
Carnegie Mel...
44
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Wills Lifestyle_Brand Extension[pgp30380]

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Brand Extension Analysis of Wills Lifestyle into Indian retailing space.

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Wills Lifestyle_Brand Extension[pgp30380]

  1. 1. 1 WILLS From Cigarettes To Lifestyle
  2. 2. ITC – The Company One of India’s most Admired and Valuable company -Market Capitalization: over US $ 40 Bilion A USD 8 billion enterprise by Revenue - ~58% of Net Revenue from non-Cigarette segments Leading Fast Moving Consumer Goods marketer in India - Established several world class brands in the last 10 years The only Indian company to feature consistently amongst the Top 10 global FMCG companies Only Indian FMCG company to feature in Forbes 2000 List 2
  3. 3. ITC’sBusinessPortfolio 3
  4. 4. ITC’sBrandsforIndian Consumers 4
  5. 5. Source: Audited Financial Results, ended 31st March 2015, http://www.itcportal.com/about-itc/shareholder-value/key-financials/quarterly-results.aspx 41% 21% 3% 19% 12% 4% Segment Revenue FMCG - Cigarettes FMCG - Others Hotels Agribusiness Paperboards, Paper & Packaging Others ITC Category Wise Segmentation • Generates 80-85% of ITC’s profit Cigarette FMCG Business • Lowering its losses every year and it is expected to breakeven in 2014-15. The segment's losses declined from Rs 195.49 crore in 2011-12 to Rs 81.26 crore in 2012-13 Non-Cigarette FMCG Business 5
  6. 6. Wills – ITC’s Cigarettes Business ITC is the market leader in cigarettes in India The Wills brand is estimated to be worth Rs 1,500 crore and is second only to Gold Flake, also owned by ITC, which is valued at nearly Rs 2,500 crore Segment-wise Gross Revenue of FMCG- Cigarettes is 41% Cigarettes still generate 80-85% of ITC’s profit ITC’s cigarette sales by volume were estimated to have shrunk 9% year-on-year 6
  7. 7. Wills Lifestyle – ITC’s Lifestyle Retailing ITC's share is not more than 4% in the apparel retail Top-of-the-line garments Wills Lifestyle plus John Players -- contributes a little over 2 per cent of ITC's FMCG business Segment-wise Gross Revenue of FMCG-non Cigarettes is 21% . Wills Lifestyle contributes 60% to ITC's lifestyle retail revenue Wills Lifestyle contributes almost 80% to ITC's lifestyle profits Increasing average billing value by 15-20% year-on-year with a more premium mix 7
  8. 8. Why Brand Diversification? 8
  9. 9. Brand Diversification High incidence of taxation and a discriminatory regulatory regime on cigarettes in India The share of legal cigarettes in overall tobacco consumption has progressively declined from 21% in 1981-82 to below 12% in 2014-15 even as overall tobacco consumption has increased in India The declining sales of cigarettes, the proposed ban on advertising (Prohibition of Advertisement and Regulation Bill 2001), the increasing anti-tobacco campaigns and the experience in developed countries seemed to suggest that tobacco would no longer be a profitable business in the future ITC decided to diversify into non tobacco businesses ITC's diversification, especially into areas such as branded garments, aimed at improving its brand image, which, in turn, may help it grow its core business The lifestyle retailing business grew revenue by 20% in 2013-14. The premium-end of the market which was earlier only 5 per cent has grown to about 10-15 per cent of the whole market share 9
  10. 10. Indian Apparel Retail - Category Growth 10 India apparel retail industry value: $ billion, 2010–14 Source: Marketline
  11. 11. 11 India apparel retail industry value forecast: $ billion, 2014–19 SOU Indian Apparel Retail – Growth Forecast Source: Marketline
  12. 12. WILLS LIFESTYLE In 2000, ITC entered the lifestyle retailing space with the launch of Wills Lifestyle. Wills Lifestyle has established a nationwide presence with upmarket product range available in exclusive 104 Wills Lifestyle stores across 44 cities and more than 500 ‘shop-in- shops’ in leading departmental stores and multi-brand outlets Brand Value: Elegance, Sophistication and Exclusivity Imagery: International premium quality and vitality Tagline: Enjoy the Change 12
  13. 13. WILLS LIFESTYLE Mission: To be a one-stop, global solution provider for lifestyle and become synonymous with “Quality Lifestyle across the Globe” Vision: To create a fashion wardrobe that complements every facet of your personality at work, party and a special occasion called “LIFE” 13
  14. 14. Timeline 14 Entry into Lifestyle Retailing space – 2000 Wills Sport - 2000 Brand extensions Wills Classic - 2002 Wills Clublife - 2003 Wills Signature 2006 Wills personal care segment - 2005 Title partner of the country's most premier fashion event – 2006 Preferred Brand for rich & famous - 2009
  15. 15. 15
  16. 16. 16 2000 Racy stripes, Energetic prints and Trendy dobbies 2002 New age work wear, trendy, innovative, chic and stylish; Rreflects the work ethos of gen next 2003 Sensuous satin and sequins embellished on jacquards and alluring prints 2006 a tribute to the evolved consumer’s fashion sensibilities; Created by the leading stylists Relaxed Wear Formal Wear Evening Wear Designer Wear Product Price Place Promotion
  17. 17. 17 Product Price Place Promotion
  18. 18. Wills Lifestyle is considered as a brand that is at the forefront of fashion It positioned itself in the premium category In 2007 it was named amongst the Top Luxury Brands of India by Time magazine It is able to charge a premium from its customers The Pricing of WILLS LIFESTLE Products is High e.g. Men’s Shirts : Rs. 1500 – Rs. 5000 18 Product Price Place Promotion
  19. 19. 19 Product Price Place Promotion
  20. 20. Exclusive 104 Wills Lifestyle stores across 44 cities More than 500 ‘shop-in-shops’ in leading departmental stores and multi- brand outlets The online stores (The chunk of online customers is very small, approximately only 5 per cent of the whole) Coming up of more exclusive stores in the emerging premium mall & high street catchments Plans to scale up its retail presence by expanding the footprint in smaller markets through the franchising model 20 Product Price Place Promotion
  21. 21. 21 Product Price Place Promotion Online Store
  22. 22. 22 Product Price Place Promotion Association with country’s most exclusive & prestigious fashion event WILLS LIFESTYLE INDIA FASHION WEEK 1
  23. 23. 23 Product Price Place Promotion Loyalty Programme CLUB WILLS 2
  24. 24. 24 Product Price Place Promotion In 2008, developed a campaign voicing the thought 'The World Wants to be You' The intent has been to take consumer interest in the brand to a new high https://www.youtube.com/watch?v=qXXtpdKugos 3
  25. 25. The World Wants to be You 25
  26. 26. 26 Product Price Place Promotion Tie-ups with leading stylists of the country: Anamika Khanna, Ashish Soni, Manish Malhotra, Manish Arora and Shantanu-Nikhil 4
  27. 27. 27 Product Price Place Promotion Seasonal Discounts & Redeemable coupons 5
  28. 28. 28 Brand Positioning
  29. 29. Market Segmentation 29 Geographic Segmentation Demographic Segmentation Behavioral Segmentation Psychographic Segmentation Market Segmentation
  30. 30. Target Group • Fashion-conscious people • Class I cities • Professionals (studying/working) • Both Men and Women • Age: 20 - 34 years 30
  31. 31. Competitors It is a mélange of comfort, perfection and elegance. A global brand, and one of the best known in the world, United Colors of Benetton has an international style that combines color, quality and fashion. The brand epitomizes classic American style and effortless cool. 31
  32. 32. Competitive Frame of Reference 32
  33. 33. POPs & PODs POPs • High Quality/ Comfortable to wear • Fashion Space • Premium Pricing PODs • Association with country’s most exclusive & prestigious fashion event • Tie-ups with leading stylists • Unique fabrics • The chain of exclusive stores • No Mass Media Advertising 33
  34. 34. Perceptual Map 34 Fast-Fashion Style (Time Less Fashion) Prestige PriceAffordability
  35. 35. Brand Positioning “ITC's Wills Lifestyle presents a complete fashion wardrobe that complements every facet of your personality at work, when you are relaxed, while you party and for those special occasions.” 35
  36. 36. Brand Appearance RED – “ red carpet treatment “ & “paint the town red” (VIP, celebrities or high profile person & celebration, partying, fun & excitement) WHITE – “Peace, Perfection & Sophistication” 36
  37. 37. Brand Personality Synonymous with elegance and style that is effortless and chic, Wills Lifestyle presents a premium fashion wardrobe for men and women. 37 Thus, Wills Lifestyle has adopted Sophistication as its Brand Personality
  38. 38. Brand Resonance Model 38
  39. 39. Brand Resonance Model 39 • International Premium Quality • Vitality • Superior consumer value • Global Standards • Fashion • High-end Lifestyle • Premium clothing • Inspiration • Self-expression • Quality • Superiority • Emulation Wills Lifestyle users are o Stand outs from the crowd o Objects of everyone's envy
  40. 40. Conclusion All of this has led to: • Creating a distinctive identity in the premium western wear market • "The Most Admired Women's wear Brand of the Year“ • “The Most Admired Exclusive Retail Chain of the Year“ • "Most Admired Fashion Brand of the Year - Fashion Forward“ • “The Most Admired Exclusive Brand Retail Chain of the Year” – Wills Lifestyle 40
  41. 41. References 1. ITC Corporate Presentation, Available at:http://www.itcportal.com/about-itc/shareholder- value/ITC-Corporate-Presentation.pdf(Accessed: June 29, 2015) 2. ITC: Building World-Class Indian Brands, Available at:http://www.itcportal.com/businesses/pdf/brand-booklet.pdf (Accessed: June 29, 2015) 3. (March, 2015) Retail Industry in India, Available at: http://www.ibef.org/industry/retail- india.aspx (Accessed: June 30, 2015) 4. Database, Available at: http://advantage.marketline.com/ (Accessed: July 9, 2015) 5. Database, Available at: http://www.portal.euromonitor.com/portal/ (Accessed: August 22, 2015) 6. Wills Lifestyle, Available at: http://www.superbrandsindia.com/images/brand_pdf/consumer_3rd_edition/Wills%20Lifestyle. pdf (Accessed: June 30, 2015) 41
  42. 42. References 7. T R Vivek (2004) 'Tobacco ban forces ITC to stub Wills', Business Standard, 21st July 8. Manish Basu (2015) 'ITC to raise prices of all its key cigarette brands', Live Mint, 13th March 9. NAMRATA ANAND, VANDANA KHETARPAL, (2014) 'GROWTH OF APPAREL INDUSTRY IN INDIA: PRESENT AND FUTURE ASPECTS ', , II(I) 10. Sreeradha D Basu (2010) ''We try to make fashion more accessible'', The EconomicTimes, 21stA April 42
  43. 43. Acknowledgement 43 The Brand Analysis is done under the able guidance and support of Dr. Sameer Mathur, Ph.D. Carnegie Mellon University Marketing Professor (IIM Lucknow) http://www.BuddingMarkets.com By: Mehak Jindal | PGP30380 | IIM Lucknow Brand Management Course
  44. 44. 44

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