These days, whenever one looks at the huge store front of the Vero Moda store, Mumbai, there is, almost always, a sale going on. With so many offers, discounts and an amazingly intuitive collection, Vero Moda offers affordable style to the modern Indian woman.
There are many international brands in the Indian retail market today- and yet, Vero Moda is one of the few that has queues outside on sale weekends, beginning from early in the morning- hours before the store actually opens. The atmosphere is like the entry to an elite club, complete with bouncers allowing one person inside at a time.
This formula is not native to India. To successfully create this kind of hype and interest surrounding a brand cannot be attributed to the social media alone. To the local Indian shopper, who has no qualms bargaining to get her kind of deal, why is it that a Rs. 2000pair of jeans, appears to be ‘totally worth it?’
Bestseller Label, Vero Moda, it seems, is bringing international and exclusive fashion trends to the streets of India. BESTSELLER India currently has 96 exclusive brand outlets and is present in over 250 shop-in-shops in external multi-brand stores throughout India. Bestseller India markets and sells the three brands Jack & Jones, Vero Moda and ONLY.
VERO MODA is the brand of choice for the fashion-conscious, independent young woman who wants to dress well and pay less.
-Vero Moda Website (About)
India’s retail market, especially for western wear, has, over the past few years, attracted several brands from around the world that are banking on the country’s need for fast fashion. Consumption expenditure on apparel in the country is expected to increase 3.8 times to $225 billion over the next seven-eight years, according to a report by Boston Consulting Group.
At IntelligenceNODE, we believe that there are two main aspects to Vero Moda’s positioning and perception as a premium and yet affordable ‘brand.’
- Inclusive Pricing
- Intuitive Catalog
The biggest draw for customers to Vero Moda is its frequent refreshing of merchandise. Aimed at 15 to 40 year old women, pricing starts from Rs 1,995 and goes up to Rs 7,995 or more, clearly grabbing the attention of the millennial generation. New collections like the Spring-Summer or the winter collections are first presented to the creators of opinion-the bloggers, vloggers, diarists and fashion editors.
The collections are straight from the global runways; but still manage to set the tone for Indian silhouettes and body types. There are no compromises when it comes to sizes- one of the biggest clinchers (or problem areas) for any international brand in India.
In spite of this positive incline in brand positioning and popularity, all does not seem hunky dory. Sales at Bestseller Retail India almost doubled to Rs 235 crore in FY13, but there is a long way to go yet. Mayhap, fast fashion needs to become fashion of substance now!