Saturday, May 19, 2007

Belmonte: Suits Your Style

Brand: Belmonte
Company: SKumars Nationwide

Brand Count:233

Belmonte is SKumar's new brand in the Rs 80000 crore Apparel industry.Belmonte is launched in the midprice segment where the company believes that there is a gap for a new brand.
The launch of Belmonte is an example of the theory of targeting . SKumar has been a serious player in the textile industry for a long period. The brand Skumar also had a good equity in the market. But with the textile market getting hot with a slew of brand launches, SKumar needed to relook their strategy especially regarding the segments.
Much of the branding action was taking place in the readymade segment . Skumar tried their hand in the readymade segment with their brand Tamarind, but failed miserably. This may have prompted the company to look at different segments in the suitings where the brand has its strength.
The initiative got a boost with successful launch of Reid and Taylor brand in the premium segment. The latest launch of Belmonte is the foray of the company into the highly profitable mid price segment.
Belmonte is targeting the youth ( as usual the executives) and I feel it is a masstige product.The brand is aiming at the Midprice segment. Belmonte is endorsed by Shah Rukh Khan and is being positioned as a " Stylish" brand. The brand takes the tagline " Suits Your Style". The tvs are on air right now.Belmonte offers total wardrobe solutions and that includes readymades also.
Watch the TVC here : BELMONTE ADS

Belmonte has taken up style as its differentiator and Shah Rukh projects himself as the style icon( is he regarded as a style icon?). I don't think that any other brand has taken Style as its positioning platform hence Belmonte stands to gain some advantage. Since SRK is the brand ambassador, there is a chance that consumers will think about this brand as a premium brand and does not check it out. The brand may have to do PR to make sure that Belmonte is not perceived as unaffordable.

While Reid and Taylor takes care of the premium segment, Belmonte takes care of the Midprice segment and the lower segment is targeted by SKumars Brand.Reid and Taylor and now Belmonte will definitely give a boost to Skumars' brand portfolio. The company is trying for new launches at the super premium segment with the launch of international labels. It will be better if the company depends less on brand ambassadors and focus more on the brands like what Raymonds has done. In the long run it will prove beneficial for the brand.

Source: Businessline,fibretofashion,skumarwebsite