Introduction
Building Indian brands in the global apparel market is necessary because these markets can increase the value of their products through branding. However, there are very few apparel exporters who have attempted to create brands in the global market. Most exporters supply to international buying houses or retail chains according to provided specifications and designs, often hiding their identity by putting the label or brand name as stipulated by the buyer.
Consumer tastes are rapidly changing due to cultural, psychological, and global trends, resulting in reduced brand loyalty. With many global brands entering the Indian market, Indian brands face stiff competition and struggle to survive. Marketers need to strengthen their brands to sustain in this competitive landscape. This requires a shift from viewing branding as a set of activities to considering it as a strategic imperative. While apparel exporters possess the capability to produce for the global market, their primary drawback is the lack of strategic thinking in creating their own brands. Let's explore the scenario of apparel branding in the domestic market.
The liberalized trading regime has led to increased international trade opportunities for exporters while exposing the domestic industry to import penetration. World-class brands like Chanel, Lancome, Givenchy, and Gucci dictate fashion trends, and branding plays a significant role in this segment. Branding is a strategic approach used by marketers to occupy space in the consumer's perception. A brand encompasses the totality of factors considered by the consumer before making a purchasing decision, giving it meaning and significance.
The authors are Assistant Professors in the Department of Textile Technology at Shri Vaishnav Institute of Technology and Science, Indore
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