We firmly believe in creating win-win scenarios
Hancock, a men’s and women’s wear brand, boasts an extensive collection of formal and casual attire, thoughtfully crafted in a plethora of fabrics, fits, colours, and designs. The company’s unwavering commitment lies in creating top-tier clothing that not only defines fashion but also offers an unparalleled experience for the discerning fashion enthusiast. The meticulously designed garments not only elevate the wearer’s fashion quotient but also prioritise comfort with skin-friendly fabrics. In an interview with Fibre2Fashion, Director Yash Singhal discusses men’s and women’s wear segments and promoting them online and on social media.
The fashion industry is heavily influenced by cultural and societal trends. How do you anticipate fashion will continue to reflect and respond to these influences in the coming years?
In the context of the fashion industry, cultural and societal trends play a pivotal role in shaping styles and choices. I firmly believe that fashion should align with the context and occasion. It is not just about choosing between short or long clothes, but rather about appropriateness to the setting. For example, resort wear might be out of place on a Delhi High Street, and similarly, wearing fully covered clothes at a resort may not be suitable.
Understanding the societal context and the specific event or environment is crucial. Fashion is not just about individual expression; it is also about being mindful of the society we live in. It is about striking a balance between personal style and social appropriateness.
Looking forward, fashion will continue to evolve in response to these societal and cultural nuances. The industry is likely to see more adaptive styles that cater to diverse occasions and settings. This adaptability is key, as it reflects an awareness of the varied social contexts in which fashion is showcased and experienced. As society continues to evolve, so too will the fashion industry, reflecting and adapting to these changes in a way that respects both individual expression and social appropriateness.
With the rise of social media and influencers, how has marketing and brand promotion in the fashion industry transformed, and what strategies are proving most effective in reaching and engaging consumers?
In the context of marketing and brand promotion in the fashion industry, the rise of social media and influencers has brought about significant transformations. As a marketer, the primary goal is to reach the targeted customer segment efficiently, quickly, and economically. Marketing is about ensuring that your product, place, pricing, and promotions are aligned with the identified consumer segment.
In recent years, influencer marketing has emerged as a significant trend. It has become relevant for both brands and influencers, creating new occupational avenues for many and becoming a part of the income tax system. For marketers, influencers offer a solution to reach their target audience more effectively.
However, the surge in people aspiring to become influencers should be approached with caution. Becoming an influencer should be contingent on having expertise or a unique perspective in a specific domain. It is about being a leader with a following, not just about pursuing popularity. Aspiring influencers should identify and develop their unique skills and strengths, distinguishing themselves from the crowd.
For brands, the key is not just to collaborate with any influencer but to find those whose audience aligns with the brand’s target market. It is not solely about the number of followers or likes an influencer can generate; it is more about whether their audience is the right fit for the brand’s products. When there is a synergy between the influencer’s audience and the brand’s target demographic, a partnership can be both meaningful and fruitful. This alignment is crucial for effective influencer marketing in today’s digital age.
Can you tell us about the inspiration behind starting Hancock Fashion and what sets it apart from other fashion brands?
Hancock Fashion was inspired by a deep-rooted family history in the fabric and textile business, spanning over 60 years. Growing up in an environment surrounded by fabrics and textiles, I developed a passion for fashion from a very young age. This passion led me to study at NIFT, work with various brands, pursue an MBA, and eventually start Hancock Fashion. My journey has always been driven by a love for fashion, which I consider a calling from the heart.
What sets Hancock Fashion apart from other brands is our focus on unisex clothing, offering a range of apparel for both men and women. Initially, we started with menswear and later expanded into womenswear. This expansion was met with substantial positive feedback, making us wonder why we had not ventured into womenswear earlier. We identified a significant gap in the market for women’s formal wear and committed ourselves to addressing this need seriously and diligently.
Few brands cater effectively to both men and women, and this is where Hancock Fashion stands out. Our goal is to become a fashion powerhouse, offering consumers a wide range of choices for various occasions. Whether it is formal, casual, party wear, or resort wear, we aim to be a one-stop solution for consumers seeking versatile and comprehensive wardrobe options for all their lifestyle needs.
How do you select the materials and fabrics for your clothing items, and what role does sustainability play in your sourcing process?
In selecting materials and fabrics for our clothing items, we actively search for emerging global trends through our channel partners and also engage in our own discovery processes. This includes input from fabric suppliers who often present new designs and ideas. We balance these insights with calculated risks, predicting what will be trendy in the upcoming seasons. Sometimes, we source ready-made fabric designs from the market, and at other times, we provide our own designs to fabric suppliers to be produced. Our in-house design team focuses on creating diverse silhouettes and garments that resonate with our consumers.
Regarding sustainability, I view it as a term with broad interpretations and no definitive answer, often perceived as marketing jargon rather than a practice earnestly adopted. To me, sustainability means behaving responsibly towards all stakeholders: customers, society, vendors, and employees. It is about creating a win-win situation for everyone, although the degree of benefit may vary.
In terms of environmental sustainability, it is more about the efficient and repetitive use of resources. For example, the sustainability of a material is determined by its reusability. A paper bag used only once is not sustainable, whereas a plastic bag reused thousands of times, especially if recyclable, can be considered sustainable. Government regulations play a critical role in enforcing sustainable practices, like setting standards for plastic use.
In the garment industry, pollution is primarily associated with electricity use. However, there is a growing shift towards using solar energy instead of thermal power across the supply chain. Moreover, many companies, both large and small, are adopting good practices like recycling water and not discharging it into rivers. While fabric and textile production can contribute to pollution, the industry is increasingly adopting sustainable practices, and I anticipate continued improvement in the coming years.
What are the key principles and values that guide your brand’s design philosophy?
Our brand’s design philosophy is anchored in the principle of being trendsetters and fashion-forward. We recognise that consumer demands evolve over time, and we strive to be adaptable and responsive to these changes. Our journey started with formal wear, but we have expanded into casuals, resort wear, and womenswear, demonstrating our flexibility and refusal to be rigid.
A key issue with many big brands is that their core competencies often turn into core rigidities, leading to a downfall. The market is dynamic, and swift adaptation is crucial. In terms of design, we leverage market intelligence reports from our channel partners and suppliers, and conduct our own research to understand global trends, including how international brands are responding to climate and cultural events. We design our collections in sync with these insights, ensuring relevance and appeal.
In terms of values, it is fundamental for us to offer products that we would personally wear. Unlike some brands that rely heavily on big data to dictate customer demand, we focus on a more personal and relatable approach. Would I feel comfortable asking my family members to wear our products? If the answer is yes, then we proceed. This approach underscores our commitment to quality and suitability.
Education is also a key value. Many customers are not well-versed in fashion, fabrics, and fibres, and may not understand the differences and implications of various materials. It is our responsibility as a brand to educate them, ensuring they are informed about what they are wearing. We prioritise offering products that are skin-friendly, recognising that this is a crucial aspect of clothing that is often overlooked. Our goal is to combine trendsetting designs with values that prioritise the well-being and satisfaction of our customers.
Your website features a section on community involvement. Could you elaborate on the social initiatives or community projects that your brand supports?
Our brand’s community involvement, particularly in terms of social initiatives, has been evolving recently. We have partnered with Glad You Came, an initiative that has significantly enhanced our ability to reach and engage with our customer base. Up until a few months ago, we were not actively present on social media, as it did not seem necessary at that stage of our business. However, three months ago, we recognised the importance of aggressively promoting our products and educating our customers about their unique selling points (USPs). This move towards a more proactive social media presence has been a challenge we have eagerly embraced.
In terms of social initiatives and community projects, our focus has been on creating a positive and supportive environment for all our stakeholders, including customers, employees, and vendors. We believe in appreciating and valuing their contributions not just monetarily but also through recognition of their work, timely payments to vendors, and effective promotion and education about our products. These practices contribute to a harmonious and productive relationship with all involved parties.
Regarding specific social events or community projects, we have yet to undertake any remarkable initiatives. However, we are aware of this gap and are actively exploring opportunities to contribute more significantly to social causes. We have started some processes in this direction and are committed to making a meaningful impact in the near future.
Can you discuss any specific challenges you have faced in establishing Hancock Fashion and how you have overcome them?
Establishing Hancock Fashion in 2011, particularly in the offline and distribution sectors, presented several challenges. In the initial stages, when approaching retailers, I often faced significant resistance. There were instances where retailers would not even allow me to open my briefcase to present samples. Gaining their trust and interest to consider our products was a daunting task.
Even when some retailers showed interest and purchased our products, there were further challenges. A major issue was the credit-based nature of transactions. Most sales were not made in cash, leading to delayed payments and financial uncertainties. Additionally, demand from retailers was erratic and often accompanied by endless excuses, making it difficult to predict and manage our inventory and finances effectively.
However, the shift to online business dramatically transformed our operations. The transition to e-commerce addressed many of these initial hurdles. Online sales brought a more regular pattern of business; we knew that each day at the office would involve processing orders, purchasing fabrics, managing production, and shipping products to customers. This predictability and structure have fuelled consistent growth and a much more positive business environment.
Now, our focus is on growth and increasing the number of orders we receive. The shift to online sales has brought positive energy and a more stable and promising business outlook, starkly contrasting with the challenges we faced in the offline market.
Online shopping has become increasingly important in the fashion industry. How does Hancock Fashion utilise its website to enhance the customer shopping experience?
The transition to online shopping has definitely been a significant development for Hancock Fashion. We initially began as an offline business but experienced a major breakthrough when we ventured into online sales in December 2014. This shift was a landmark event for us, opening new doors and opportunities. However, it was not until 2017 that we launched our own website. Although we were not present on Instagram at that time, we recognised the importance of having an online presence to establish ourselves as a recognisable brand.
Our decision to create a website was driven by the realisation that many consumers search for brands online. Being present in the digital space is crucial for brand visibility and engagement. Our website serves not just as a basic requirement but also offers us a platform where we have complete freedom in presenting our products and sharing detailed information, something that is often limited on other marketplaces.
Marketplaces like Myntra or Flipkart have their own ways of presenting products, which can sometimes restrict the amount of information we wish to convey about our products. Our website allows us to overcome these limitations. We have noticed that many customers, after discovering our products on these marketplaces, visit our website to delve deeper into product details. Our website provides comprehensive information and insights that customers seek, thus enhancing their shopping experience and aiding in their decision-making process.
With the growth of e-commerce and online shopping, how has the retail landscape within the fashion industry changed, and what challenges and opportunities has this shift created for brands and consumers?
The rise of e-commerce and online shopping has significantly transformed the retail landscape within the fashion industry, bringing both challenges and opportunities for brands and consumers.
E-commerce, which has matured significantly over the years, is now a mainstream and accepted mode of shopping. A decade ago, the concept of buying garments online was met with scepticism, with many questioning how customers could buy without the ability to touch and feel the products. However, this perception has changed drastically. Consumers have become more educated and comfortable with online shopping, making it a preferred shopping medium, especially for younger generations.
For Generation Z, those born after 1998, shopping via smartphones and online platforms is the natural first choice. This contrasts with earlier generations like Generation Y and X, for whom offline shopping was primary, and e-commerce was a secondary, newer option. For Gen Z, e-commerce is not just an alternative; it is the default. This shift in consumer behaviour is a key trend shaping the industry’s future, with Gen Z poised to drive growth in the fashion sector for the next two decades.
As I mentioned earlier, when Hancock Fashion ventured into e-commerce, we experienced significant success, which highlighted the potential and advantages of online retail. E-commerce allowed us to bypass many barriers inherent in offline business, such as limited reach and difficulties in scaling. The online platform has enabled constant growth, expansion into new product categories, and access to a broader consumer base. The dynamic nature of e-commerce allows for quicker response to market trends and customer needs, creating a more agile and adaptable business model. This shift from traditional retail to e-commerce has created a landscape where brands can thrive by leveraging technology, understanding evolving consumer preferences, and continuously innovating in both product offerings and customer engagement strategies.
What steps do you take to ensure ethical production in the fashion industry?
Ethics, in my view, is a term with varied interpretations and meanings, changing with individual perspectives, situations, and over time. What one person deems ethical, another might not. For me, ethical behaviour is about making decisions that the majority would agree are correct and appropriate at a given time.
In terms of ethical manufacturing within Hancock Fashion, our approach revolves around fair and transparent dealings, especially with our vendors. The distinction between bargaining and negotiating is crucial here. We focus on negotiation, which involves understanding each other’s costs and profit margins openly. The goal is to ensure that both parties are in a profitable situation because ultimately, everyone involved in the business is looking to make a profit.
We firmly believe in creating win-win scenarios. This means not just ensuring timely payments to our vendors but also expecting them to deliver good quality products on time. It is important to remember that the relationship should be two-way, not one-sided. If our vendors support us, we are equally committed to supporting them, both in good times and challenging ones. This reciprocal understanding and respect form the core of our ethical trading practices, ensuring fairness and mutual benefit in all our business dealings.
Could you highlight any upcoming collections or collaborations that your customers can look forward to?
We have several exciting collections and initiatives lined up for our customers. Recently, before the festive season, we launched a party wear collection. It is a light, designer-inspired capsule collection, and we have been receiving very positive feedback on it. Additionally, we are continually enhancing our merchandising capabilities as a brand.
A significant new venture for us this year is the launch of our winter wear collection. This is the first time that we have introducing complete men’s and women’s winter wear collection, which is now live on our website and on marketplaces.
Another major development is the launch of our women’s bottom wear. We have identified a clear market gap in this area and are dedicated to addressing it with the same commitment that we have shown in women’s top wear. The collection will include a mix of cords for both men and women. In womenswear, we will be offering both casual and formal cords. For menswear, we are introducing resort cords, a niche that is currently underrepresented in the market. We are eager to set a trend with this launch and are looking forward to seeing how the market responds to these new offerings.
What is your vision for the future of Hancock Fashion? Where do you see the brand in the next five years?
Looking towards the future, Hancock Fashion has ambitious plans for expansion and growth. From a merchandising perspective, we are set to diversify our product range significantly. Next year, we plan to introduce a kidswear line, and within the next two years, we aim to launch a footwear collection along with some accessories. This expansion in our product lines is a strategic move to cater to a broader customer base and respond to diverse market needs.
In terms of market expansion, we are actively exploring opportunities to enter international e-commerce. We are identifying potential partners and strategies to take our website and brand beyond our current geographical limits. Our goal is to make Hancock available in various international markets, such as the US, the Middle East, and some European countries. We are focusing on further developing and maturing our website before we start processing international orders.
Regarding our financial goals, we are looking to scale the brand significantly in the next five years. We aim to reach a Gross Merchandise Value (GMV) in the range of ₹150 to 200 crore. This ambitious target reflects our commitment to growth, both in terms of geographic reach and product diversity, reinforcing our vision of making Hancock Fashion a globally recognised and diverse fashion brand.
