Brands
Mother Dairy focuses on east; eyes Rs 7,000 crore biz by FY16
KOLKATA: Mother Dairy, a wholly-owned subsidiary of the National Dairy Development Board, which launched its dairy whitener, under the ‘Dailycious’ brand in Kolkata, is expecting volumes to go up and cross the Rs 100 crore mark following the new launch. At present, the company reports about Rs 30 crore business annually from its dairy business in the east.
Additionally, the company is looking at an overall organisational business of nearly Rs 7,000 crore by the end of this financial year (2015-16), up from Rs 6,300 crore reported last year. The company is expecting a growth rate of around 11 per cent in the current fiscal.
“At Mother Dairy, it has been our constant endeavour to offer exceptional value to consumers, and this has been the core of our products. Carrying on the same ethos, the dairy whitener is being launched under the Dailycious brand. It will be made available through a wide network of distribution channels of nearly 10,000 outlets, including retail and model retail formats across the region,” said Mother Dairy business head (dairy products) Subhashis Basu.
The company plans to penetrate in the eastern and north-eastern states through the category by offering the product at lower price points compared to other existing players. It has chosen the eastern states to launch the product as this zone is milk-deficient and consumes it in big scale, he hinted.
The company has lined up similar rollout plans for other cities and important markets across the country. The dairy whitener market is pegged at Rs 2,000 crore with east and the north east markets accounting for 50 per cent of the total, he said.
Initially, besides West Bengal, Dailycious would be launched in the North East, Bihar, Odhisha and Kerala, he said. “Whitener products will be manufactured from our new plant at Etawah in Uttar Pradesh, where we have made an investment in excess of Rs 150 crore,” Basu added.
The eastern states contribute to 45 per cent of the total market, said Basu. According to him, the company is eyeing a five per cent market share by this fiscal. The products will be available from 14 April.
Basu also informed that dairy products like fresh milk, ice cream, butter milk and lassi among others, contributes to about 80 per cent of the company’s total revenue.
Brands
Malaika Arora launches accessories brand Maejoy
The Bollywood star’s lifestyle brand, built with Myntra and Exceed Entertainment, promises aspirational fashion without the high price tag
MUMBAI: Malaika Arora is not the first Bollywood star to put her name on a brand, and she will not be the last. But Maejoy, the accessories label she has launched in partnership with Myntra Jabong India Private Limited (MJIPL) and talent outfit Exceed Entertainment, at least has a sharper pitch than most. The brand drops with 250-plus styles spanning handbags and lab-grown diamond jewellery, two categories that sit squarely in the sweet spot between aspiration and affordability, and lands on Myntra’s platform from day one, putting it in front of millions of shoppers without breaking a sweat.
The handbag range covers the full gamut: crossbody bags, structured shoulder bags, bucket bags, totes, workwear classics, backpacks and clutches, rendered in synthetic leather, raffia, braids, satin, rhinestone and metallic finishes. The jewellery line runs to rings, earrings, pendants, bracelets and tennis bracelets in silver, gold and rose-gold tones, set in 925 sterling silver with IGI and GCI certified lab-grown diamonds. The brand’s guiding philosophy, “The Joy of Being Me,” stakes its claim on individuality and self-expression; its three brand pillars, Authentic, Empowering, Accessible, are the usual suspects, though the lab-grown diamond bet is savvier than it sounds. Lab-grown stones now sell at a fraction of the price of mined ones, and the category is growing fast in India as younger buyers wise up to the arbitrage.
“Maejoy is a labour of love. Throughout my career, whether on screen, in business, or through my personal style, I’ve championed the idea that fashion should be empowering yet effortless. The brand aims to democratise global fashion trends while offering women something that extends the feeling of luxury every day, be it a lab-grown diamond or a perfectly crafted handbag,” said Malaika Arora, founder of Maejoy
MJIPL, the B2B wholesale arm of Myntra, is putting its design and brand-building muscle behind the venture. Suman Saha, chief experience officer and head of house of brands at MJIPL, was bullish on the tie-up.
“Maejoy brings together Malaika Arora’s distinctive style perspective with a strong proposition in the accessible yet elevated accessories space. We believe the brand’s fashion-forward designs and thoughtful positioning will connect strongly with discerning consumers.”
Suman Saha, chief experience officer, head of house of brands, MJIPL
Afsar Zaidi, chief executive of Exceed Entertainment, the talent management firm that helped broker the deal, has worked with MJIPL before and was characteristically direct about what makes Arora an unusually bankable partner.
“Building celebrity-led brands requires a delicate balance of authenticity and market viability. Malaika is a rare talent who commands equal respect as a fashion icon and a savvy businesswoman. We are proud to facilitate this partnership that brings together her creative clout and Myntra’s brand-building excellence,” said Zaidi
Celebrity fashion brands live or die on one question: does the star actually wear it, or is the cheque the only thing they signed? Arora, who has spent three decades as one of Bollywood’s most-watched style references, has at least built a plausible case. Maejoy is live now on www.myntra.com and the Myntra app. The real test, whether shoppers buy the handbag or just the hype, starts today.
