Global brands rushing to groom upmarket Indians

Though the market is already teeming with international brands, new entrants are dime a dozen, given the Rs 500 crore market for the premium grooming segment.

Estimates suggest that this market is growing by 45-50 per cent annually. The apparel segment alone is expected to grow to Rs 300 crore in the next three years.

In May so far, two new players—New Balance shoes and lifestyle major Nautica—announced plans to set up shop here.

Nautica, for instance would pump in Rs 30 crore in the next three years to set up 12 stores across India.

‘‘Getting the Nautica brand in India would be a step closer for us in bringing world class brands here,’’ said Darshan Mehta, president of Arvind Brands Ltd, which would retail Nautica in India.

Nautica would offer its exclusive range of men’s and women’s apparel and accessories and would soon launch its women’s sportswear and home collection in India.

Besides for the fitness freak, US footwear company New Balance has just the right ‘walking and running shoe’.

‘‘With fitness mania gripping the country, we estimate a good market for running and walking shoes in India,’’

New Balance Asia head Darren Tucker said, adding his company plans to open 50 exclusive outlets in the country by 2008.

Its not for nothing that these multinationals are bringing their brands to India. They are also talking market shares and eyeing ambitious turnovers.

Tucker estimates that runners and walkers category would contribute 20-22 per cent of the Rs 700 crore sports footwear market in India, of which they were looking at a market share of 15 per cent.

Nautica on the other hand is looking at a 10 per cent market share of the Rs 300 crore premium apparel segment by 2009. Mehta states the company would also earmark 20 per cent of its topline sales in advertising and marketing the brand.