|
Before Peter England was launched, the mid-price buyer went through
a cumbersome search process every time he bought a shirt. There
was pre- and post-purchase uncertainty over fit, quality, durability,
etc. The market segment was divided as under:-
|
Segment
|
Price range
|
Share
|
|
Premium
|
Rs 500+
|
15%
|
|
Mid-price
|
Rs 250-500
|
35%
|
|
Economy
|
Below Rs 250
|
50%
|
The mid-price market for shirts had a plethora of store brands selling
mostly on retail push. These store brands had not built and sustained
relationships with the consumer. The brands lacked clear imagery and
distinctive emotional payoffs. The mid-price buyer looked for desirable
brand imageries as no one wants to feel that he is buying a 'cheap'
product. Also most mid-price buyers believed premium shirts brands
were overpriced. |
Peter
England was launched in March-April, 1997 in India and became a 1
million brand within two years. It is the only new lifestyle brand
feature in 'the best brand' in the IMAGES study a year ago. Even the
Brand Track information suggests that Peter England tops the score
board, on all the parameters amongst all brands.
In
sum, every mid-price buyer sought a mix of rational, sensory and
emotional payoffs. The mid-price segment had good growth rates.
It indicated an enormous potential for the development of a new
brand. Peter England recognised this and focused to tap that segment
and became the first brand in the mid-segment to cross Rs 100 crore
mark in India. It ensured the consumer's need for 'product plus
brand imagery'. 
The
insight that 'most consumers thought premium shirt brands were overpriced'
provided that link. It tied up as 'Just honest-to-goodness quality.
Available at an honest-to-goodness price'. Thus emerged the brand
line: Peter England - The honest shirt. 
Peter
England offered an extensive range of office-wear; and relaxed wear.
Delivery of consistent good quality was ensured. Contemporary designs,
colours and fabrics were used. Wide distribution ensured easily
availability and well-orchestrated merchandising drove guaranteed
market visibility.
After
brand was established, the task of quickly building volumes became
critical. The category demanded fresh fashion cues every season; and
therefore the casual wear range was introduced as a sub-brand Elements
in 1999. The brand also moved into offering trousers in 2000 by extending
itself to cover the complete wardrobe. 
Peter
England today is the largest selling brand in the country, and continues
to grow at a very robust rate. Imitation is the best form of flattery:
lots of Peter England clones in the market vouch for this.