Sunday, March 29, 2020

Happenstance : Extreme Comfort Engineered

Brand: Happenstance
Company: Mosons Enterprises

Brand Analysis Count: 594

Happenstance is a new brand of footwear launched recently. The brand is making a lot of noises in the social media which interested me to further look into the brand's background. Although little is known about the brand owners, from the website it is found that the brand is owned by Kerala based Moson's Group. 
India is the third-largest footwear consuming country in the world with estimated market size of INR 32000 crore. 75% of the market is dominated by the unorganized sector. Since this is a crowded market, it takes a lot of effort to make a significant foothold in this market. 
Happenstance is primarily depending on the social media space to create a mark in the mind space of the consumers. And celebrity endorsement is often the preferred route for establishing awareness, especially for a new brand. 

Happenstance launched itself using high profile endorsements from celebrities like Sushmita Sen, Radhika Apte, Rajkummar Rao in their campaigns. The theme of the campaign focuses on testimonial theme to drive the brand's strengths to the consumers. Happenstance means coincidence and is quite an unusual name for a footwear brand which itself is a curiosity building element.
The brand is built on the positioning of comfort. Happenstance achieves this positioning through the smart use of two trademarked ingredient brands - Fluffium outsoles and Buoyance footbeds. The brand also smartly uses the concept of "engineering" to build authenticity to the claims. Happenstance uses the tagline " Extreme Comfort Engineered " which adds to the positioning. 
The social media promotion by the brand is done through a large number of influencer posts across the various media. Youtube is full of reviews and unboxing of the brands by fashion bloggers. The brand had also used traditional media to a certain extent featuring celebrities and fashion models. 

Footwear is an experiential product and the user's perception towards the brand's claims will vary. However, the brand has done its initial homework pretty well and the challenge is to keep the momentum going. A problem with celebrity-driven marketing is that while the celebrity helps the initial brand pull, brands often find it difficult to sustain the momentum without such expensive promotions in the long run. Comfort based positioning is currently unexplored in the market where most of the brands are talking about style. While Happenstance has identified the positioning gap, it has to be seen how the product performance takes it to the next level of growth.