Thursday, November 17, 2011

Parx : Live Easy

Brand : Parx
Company : Raymond's Apparels

Brand Analysis Count :  # 503

Parx - the premium readymade casual wear brand from Raymonds Ltd is in a relaunching mode. This Rs.185 crore brand from Raymonds wants to play an aggressive role in the hyper competitive ready-to-wear category in the Indian market.

Parx was launched in 1999 as a premium ready to wear brand targeting the highly mobile young corporate customer. The brand was targeting the users for their after- office hour dress requirements. Despite the backing from one of India's reputed textile brand and perceived high quality & expertise, Parx did not quite make it to the big league. It was dwarfed by the success of brands like Color Plus ( which was later acquired by Raymonds) and Allen Solly.

The Indian ready-to-wear market is highly lucrative in terms of market size of approximately Rs 24000 crore. The casual wear market is expected to be around Rs 7200 crore.  
Despite the fact that Parx belonged to one of the most respected textile houses , the brand did not quite caught the fancy of the consumer. As a consumer, I found the brand very pricey and failed to give any meaningful justification to the pricing either interms of brand or product features. Over a period of time, the brand also failed to keep itself aspirational due to increasing competition from global brands.

Parx was also laid-back in its branding efforts. The brand owners was not quite clear about the positioning of Parx. Neither the brand had any meaningful positioning. The brand was neglected by Raymonds and most of the promotional investment was given to the flagship brand Raymonds and Park Avenue.The brand was perceived to be just another casual wear brand from a reputed manufacturer. This lack of a clear positioning failed the brand to justify its premium pricing. Having said that, Parx has a good fan following in tier II cities. The brand is pushed back in metros and large cities by the competition. 
The promotions of Parx was also very erratic. I don't remember any work of this brand nor any of its taglines. This lack of proper investment on brand promotion also weakened the brand's position in this highly cluttered market.
In 2011, the brand went in for a relaunch. The brand redesigned its logo and also introduced a brand- symbol  :- a Racing Stag. This symbol will be in all garments from the brand. The brand also launched its first ever television campaign since its birth.
Watch the tvc here; Parx
Parx now has a new tagline " Live Easy ". The brand is focusing on building a personality traits of independence, attitude, casualness, freedom  through these commercials. The use of foreign models aims to bring an aspirational  touch to the brand. The attempt is to brand ladder to the higher attribute of freedom rather than product characteristics.
The new effort is commendable but little too late for a brand like Parx. The positioning idea of Live Easy is nothing new and the same theme is used by various brands across categories. The brand lost precious 12 years in creating a space for itself in the Indian consumer's mind. The brand now needs to tell compelling stories of the brand attributes it is trying to tell. It needs a lot of catching up to do.