Vimal plans hip comeback to court the young
WITH his retail plans on track, Mukesh Ambani is planning a new lease of life for Reliance Industries Ltd’s (RIL) once-popular, three-decades-old textiles brand Vimal. Sources said the relaunch exercise, slated for early this year, will position the fading Vimal brand as younger and more contemporary brand to compete with rivals like Raymond, Reid & Taylor and Mayur. “To begin with, Vimal will be repositioned as a modern textiles and ready-to-wear menswear brand. This will be followed by a relaunch of the Vimal sarees range,” sources said. While RIL officials declined to comment on the relaunch exercise, sources said plans are being worked out to supply the Vimal range to Reliance Retail stores in new formats. “Details of the retail structure are being worked out, but the objective is to create consumer pull with a renewed marketing thrust,” sources said. Vimal is currently available across 60-75 exclusive franchisee-operated stores, in addition to multibrand outlets. RIL does not intend to set up additional exclusive Vimal stores. Advertising for the new-look Vimal has been handed over to Grey, on a budget of close to Rs 20 crore. RIL is considering roping in either a Bollywood star or cricketer to endorse it. RIL and Grey are currently researching on whether or not to continue with the brand’s earlier successful Only Vimal ad jingle. Vimal, which used to specialise in blended and worsted suitings, had peaked around the late eighties, with a sizeable exports business as well. However, over the years the brand’s equity has eroded and its current market share of is pegged at not more than 5-10% of the formal menswear market. Industry estimates peg the overall domestic textiles market at over Rs 100,000 crore. Pointing out to the reasons why Vimal failed, sources say, “RIL did not give enough marketing support to the brand, with textiles ceasing to be a focus area through the late 1990s. Besides, readymades began eating into suitings market with shifting preferences.” RIL’s attempt at the readymade segment too failed to take off for lack of marketing support. In early 2001, the company had even tied up with Bangalore-based Indus League, with RIL planning to outsource garments. RIL is exploring the ready-to-wear women’s market, where brands like Allen Solly and, to a small extent, Raymond have made inroads. As of now, Vimal’s women’s range, comprising of sarees and dress materials, is almost non-existent, with limited distribution in a regional markets. RIL’s textile business is based at Naroda, near Ahmedabad. Besides Vimal, the other brand under the RIL stable is home textiles brand Harmony.
WITH his retail plans on track, Mukesh Ambani is planning a new lease of life for Reliance Industries Ltd’s (RIL) once-popular, three-decades-old textiles brand Vimal. Sources said the relaunch exercise, slated for early this year, will position the fading Vimal brand as younger and more contemporary brand to compete with rivals like Raymond, Reid & Taylor and Mayur. “To begin with, Vimal will be repositioned as a modern textiles and ready-to-wear menswear brand. This will be followed by a relaunch of the Vimal sarees range,” sources said. While RIL officials declined to comment on the relaunch exercise, sources said plans are being worked out to supply the Vimal range to Reliance Retail stores in new formats. “Details of the retail structure are being worked out, but the objective is to create consumer pull with a renewed marketing thrust,” sources said. Vimal is currently available across 60-75 exclusive franchisee-operated stores, in addition to multibrand outlets. RIL does not intend to set up additional exclusive Vimal stores. Advertising for the new-look Vimal has been handed over to Grey, on a budget of close to Rs 20 crore. RIL is considering roping in either a Bollywood star or cricketer to endorse it. RIL and Grey are currently researching on whether or not to continue with the brand’s earlier successful Only Vimal ad jingle. Vimal, which used to specialise in blended and worsted suitings, had peaked around the late eighties, with a sizeable exports business as well. However, over the years the brand’s equity has eroded and its current market share of is pegged at not more than 5-10% of the formal menswear market. Industry estimates peg the overall domestic textiles market at over Rs 100,000 crore. Pointing out to the reasons why Vimal failed, sources say, “RIL did not give enough marketing support to the brand, with textiles ceasing to be a focus area through the late 1990s. Besides, readymades began eating into suitings market with shifting preferences.” RIL’s attempt at the readymade segment too failed to take off for lack of marketing support. In early 2001, the company had even tied up with Bangalore-based Indus League, with RIL planning to outsource garments. RIL is exploring the ready-to-wear women’s market, where brands like Allen Solly and, to a small extent, Raymond have made inroads. As of now, Vimal’s women’s range, comprising of sarees and dress materials, is almost non-existent, with limited distribution in a regional markets. RIL’s textile business is based at Naroda, near Ahmedabad. Besides Vimal, the other brand under the RIL stable is home textiles brand Harmony.
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