EBONY AND IVORY...IN PERFECT SYNERGY!

The first of the luxury retailers to have cashed-in on the retail boom... Here's how Ebony made it happen!

New Delhi, Jan 01, 2007 (4Ps Business & Marketing, Page No: 72): Much has been talked about global luxury brands foraying the desi markets, but do you know which was the first company to make all those ritzy brands accessible to consumers? A decade back, when India hadn't even caught on with the retail fever, (and of course, when there were no Versaces, Escadas, Lloyds or cornelianis in India, yet), Ebony Retail Holdings Ltd had already starting exploiting the potential of the affluent Indian and leveraging on the opportunity of retailing truly global products and top line brands.

“The mass Indian customers, back in 1996, could have hardly thought of having international fashion trends in India, though there was a huge demand for it. There were very few retailers (ready) to provide customers a wide range of selection, and so we thought of opening a retail store that would give the Indian customer an international experience of shopping and global brands,”explains Lalit Kumar, CEO & Director of Ebony, to 4Ps B&M, a man who has steered the company's corporate journey since inception.

Within the first year of getting established, Ebony carved a position in the consumer's mind as an elite retail company, at the same time stretching its legs into other cities in North-India. In 1999, Ebony inaugurated its second retail store in Chandigarh; and today to its credit, Ebony has eight stores in cities like Delhi, Ludhiana, Jalandhar, Amritsar,

Interestingly, the brand was previously perceived as a bon-ton brand for the eves alone, which had become a limitation. To overcome this, points out Lalit, “We created a separate division called on designer wear (for men and women both): and at the same time, Ebony widened its focus by including (generic) men's wear, kids accessories and cosmetics too.” A move that Lalit achieved by tying up with various third party suppliers. This really helped as the men's section started contributing a significant 34% on an average to the turnover. Moving on from there, the company's turnover has seen a staggering year on year 40% growth, taking up the financials to a whopping Rs.85 crore for the FY05-06.

Now, despite the first-mover's advantage, with an increasing flow of luxury global brands into India, and given their massive retail plans, the road ahead might not be as smooth. Lalit, to this effect, is pragmatically confident, “We've carved a niche for ourselves, and we don't want to become the largest retailer. We're also working with the country's top designers. Apart from apparel, we are planning to merchandise other lifestyle products to become a lifestyle departmental store.”Here's hoping the ritzy retail stands its ground as it goes expending its presence across tier-II cities in the country. Cheers... to

Ebony and Ivory!

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