International fashion & lifestyle brand Ted Lapidus today announced at the Images Fashion Forum 2007 its intention to enter India with a clutch of stand-alone retail outlets located on high streets, and in malls and luxury hotels.
The first Ted Lapidus boutique in India is set to open in April this year. Speaking to indiaretailing.com, Mr. Shridhar Sarma, Conord Ventures Group, MD & CEO said that the outlet would come up in Mumbai, Bangalore or Delhi depending on which of these three locations is readied for the launch by April.
Ted Lapidus will be positioned as an accessible luxury brand in India. The brands offer portfolio would include apparel, lifestyle accessories, fragrances, eyewear, timewear, bags, luggage in both leather and non-leather materials, home linen and more.
We are positioned as somewhere between the Louis Philippe-Van Heusen and Hugo Boss categories. We want to be perceived as a high value but an accessible brand across India, said Mr. Raj Ayer, Concord Brands (India) Pvt Ltd, ED & COO.
The retail strategy would replicate Ted Lapidus global channel format a three pronged approach comprising Flagship Outlets of about 2,000-2,500 sq.ft, Boutiques (1,000-1,500 sq.ft) and exclusive Studios. The latter would be identity stores that would communicate the brand philosophy and persona in a differentiated manner, said Mr. Shridhar Sarma, Concord Ventures Group, MD & CEO.
Finding the appropriate locations is proving to be a challenge for Concord Brands. Sadly, most Indian developers have little idea on branding, differentiation, zoning and mall management. Which leaves brands like us apprehensive on being seen in the right light at the right place, said Mr. Raj Ayer.
We are going to be very selective on location we want to be in control of the environments our products are seen in, which is why we are scouting for spaces on high-end high streets (such as Khan Market), five-star hotels and malls that house a complementing tenant mix, he added.
Three to four Ted Lapidus stores will be up in India by April 2008, and by the year 2011, we are hoping to be present in every Tier I and II city across India. Alongside the exclusive store channel, the brand will also be retailing through India’s leading department store chains such as Lifestyle and Shoppers? Stop. The arrangements with these retailers are close to being finalized, said Mr. Shridhar Sarma.
