Simon Carter is a premium menswear brand positioned between premium and luxury. Expanding its target audience to include men aged 25-30 could increase sales by 57% and profits by 97% by leveraging fixed operational costs. Cross-promoting with complementary brands Fablestreet and Skinn could boost awareness without extra costs. Niche marketing and partnering with premium music venues catering to rock and hip hop consumers can help penetrate target audiences in a cost-effective manner.
Simon Carter is a premium menswear brand positioned between premium and luxury. Expanding its target audience to include men aged 25-30 could increase sales by 57% and profits by 97% by leveraging fixed operational costs. Cross-promoting with complementary brands Fablestreet and Skinn could boost awareness without extra costs. Niche marketing and partnering with premium music venues catering to rock and hip hop consumers can help penetrate target audiences in a cost-effective manner.
Simon Carter is a premium menswear brand positioned between premium and luxury. Expanding its target audience to include men aged 25-30 could increase sales by 57% and profits by 97% by leveraging fixed operational costs. Cross-promoting with complementary brands Fablestreet and Skinn could boost awareness without extra costs. Niche marketing and partnering with premium music venues catering to rock and hip hop consumers can help penetrate target audiences in a cost-effective manner.
Simon Carter is a premium menswear brand positioned between premium and luxury. Expanding its target audience to include men aged 25-30 could increase sales by 57% and profits by 97% by leveraging fixed operational costs. Cross-promoting with complementary brands Fablestreet and Skinn could boost awareness without extra costs. Niche marketing and partnering with premium music venues catering to rock and hip hop consumers can help penetrate target audiences in a cost-effective manner.
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House of Simon Carter
Group 4 Introduction Company • Simon Carter entered India in 2017, in • Known for unique designs & premium quality apparels collaboration with ABFRL • Positioned between Premium and Luxury category
Place • Chennai Promotion • Premium Customers • Tier-1 cities • Quirky and unique • Urban Effluent Men between 30 – 40 age group design • Risking taking attitude and looking to stand out
Competitors • Purchase is influenced by Women • The House of Rare, Power look, MenXP, H&M
• Lack of worth for money and variety
Climate • Suffering from low Brand awareness • Dealing with higher rentals & staff costs and Brand equity(Awareness, • Desires to scale up operations and increase Preference, Momentum) profitability Market Survey(STP)
Target Customer- (Married with wife working, Age 30- Busy Print Simon 40, Sal 4.8LPA+, Tier 1, 2500+) Carter • 75% shopped Quarterly • 50% shopping were influenced by women (Family) • Quality, Comfort & Brand were decision maker Customer • Raymond's, Louis Philippe & Van Huesen
Old school Business Potential Customer- (Unmarried, Age 25-30, Sal casual 7.2LPA+, Tier 1) • 75% have the buying power • 50% decision were influenced by women (GF/BFF) • New mid level recruits • Quality, Brand, Print & Trend were decision maker • Allen Solly, Louis Philippe & Van Heusen
Minimal Print Consumer Target Exclusivity Men who wants to stand out from the crowd fabrics from renowned mills across Quirky Innovative the world Consumer Insight Consumer Getting unique Take Away Friendly customer service and quality Simon carter apparel is often Brand gives me an out Versatile store rare Mantra Good fit Sartorial of the box Collection décor Share your experience collection and Consumer Best quirkiness Unique comforting Need State fabrics designs fabric. Desire for quality and Simon Authentic British element comfort Youthful carter in experience orange Competitive color Designed and personalized by Simon Product Set himself Apparel stores Globe with flying airplane Marketing Strategies • Niche Marketing Ranking Localities Description 4 Nugambakkam Shopping hub-National International
5 Velachery Huge IT companies
6 Adyar IT companies, eateries and shopping malls
8 Old Mahabalipuram road(OMR) IT companies, tech parks, shopping malls
• The brand should consider launching watches in India as well, since the market survey suggest people prefer watches as an essential accessory of the brand
• Apart from T-shirts and Shirts the brand should promote the other products like trousers as a whole and relate to a complete look that a man can get Marketing Strategies • Cross Promotion • Simon carter should look into the possibility of cross promotion with Skinn a perfume brand by Titan and also with Fablestreet
• The brand can partner with leading pubs and clubs in the city to promote their products by arranging for theme parties and rock/hip hop music nights Revenue Calculations
Population of Chennai = 1,09,71,108 Average footfall in a Clothing outlet = 300
Population of Age group 25-30 (X) = 9,97,273 People initiating a Transaction = 15% Population of Age group 30-40 (Y) = 17,36,726 = 300*0.15 = 45 TXN/Day X = 57.42% of Y Profit margin of Outlet = ~12% (10-15%)
/Day TG = (30-40) years TG = (25-30) + (30-40) years Difference
Footfall 300 472 172 TXN 45 71 26 Revenue 1,21,500 1,91,700 70,200 Profit 14,580 23,000 8,420 @12% + 57% Profit The operational cost being fixed, we can have higher profits now Say ~15% Profits = 15% of 1,91,700 = 28,755 /day This is 97% high than the earlier profits Summary (Outcomes expected) • Brand mantra- “Share your quirkiness” captures the essence where consumers can pair the unique styles with their partners/ co workers
• Including the target group of consumers to 25 years of age will lead to an increase in sales and they can be loyal to the brand in long run if they are retained
• Brand equity can be increased by cross promotion with Fablestreet and Skinn with no extra cost, this will also lead to increase in brand awareness
• Niche marketing will enable the brand to penetrate more in to the target group through focussed cost effective strategies
• As per one to one consumer discussion, it was inferred that consumers having affinity towards rock and hip-hop music might be more inclined towards Simon Carter
• Leveraging this insight the brand can select premium bars or clubs in a city to organise theme parties and promote Simon Carter
• Being a premium brand customer service is important so instead of cutting down in store customer experience, a new distribution strategy must be look for Appendix Google survey data- https://drive.google.com/file/d/1lgJK5D04taOVeRup0ZIM1Z9EalES7w7J/view?usp=sharing
