News Broadcasting
Local brands would hold their own
NEW DELHI: With increasing number of international brands entering the Indian market, one aspect of worry is the survival of local brands in a market where competitive prices and quality products hold top priority.
However with this, local brands will definitely up their ante to survive, learn from the competitors and prosper, which is a good thing, pointed out Espirit Asia regional director Peter Hammond at the KSA Retail Summit here yesterday (Thursday).
Hammond said that India has the largest single country retail opportunity in the next decade as the local market has rapidly developed western tastes.
“India is the second largest country to achieve global growth at 8.2 per cent in 2003. The median age of people here is 24 years, wherein 400 million people are between the age of 20-49 years and the country is expected to double its GDP in the next 10 years. Apart from that, credit cards holders are expected to triple by 2008. However, the challenge is that the retail sector is highly disorganized in India and the import duties are restrictive. Also the middle market price points are 50 per cent lower than that of Europe,” he said.
Drawing parallels between the Indian and Chinese markets, he said that 10 years ago China’s retail sector too was unorganized with few shopping malls and high import restrictions. The middle class was also minimal wherein only 1 million people out of 1 billion were able to afford Espirit.
According to Hammond, the two countries are similar in the following areas:
1. Population
2. Actively embracing globalization
3. 100+ cities
4. Extensive local brand presence
5. Change in government direction towards economic growth
6. Extraordinary plans for retail infrastructure development
7. Restrictive local tax system
8. Conflict and stable economies for the last 50 years
The differences between the two countries can be outlined as
|
China
|
India
|
| Communist embracing capitalism controls for brands | Democratic and capitalistic so restrictions to growth is minimal |
| Began from a ‘culturally natural’ position | Large and diverse segment of middle class population but low average income |
| Very few Chinese traveled abroad prior to the 1990s | Many Indians live abroad and have also come back to the country |
China India
Communist embracing capitalism controls for brands Democratic and capitalistic so restrictions to growth is minimal
Began from a ‘culturally natural’ position Large and diverse segment of middle class population but low average income
Very few Chinese traveled abroad prior to the 1990s Many Indians live abroad and have also come back to the country
Looking at the above table, it is obvious that India has more potential than China to grow if the opportunity is tapped properly.
“At Esprit, our strategy is to look at the consumer of tomorrow and not the consumer of today and therefore focus on our brands and not on sales. If we have a good brand, sales will follow,” Hammond said.
Cautioning companies who are looking to enter an international market, he said that companies should never localize their brands to suit the market that they were looking to enter.
“Don’t compromise your international success recipe and don’t build footfalls by compromising the price factor,” he warned.
In a geographically large markets like India and China, where one part of the country may be really cold and the other may be warm, companies should keep in mind the seasonality and accordingly place their brands.
“Don’t compromise on your international portfolio for short term sales. Also, don’t decide for your customer, let the customer decide for himself,” he said.
Hammond said that Espirit’s advertising and promotional campaign was the same in all the markets that it had a presence in. “Our mission statement is that we are an international youthful lifestyle brand offering smart luxury, bringing newness and style to life,” he said.
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CNN-News18 to host Kolkata Town Hall on Hooghly River
‘Bhalobasa Bengal Inspiring Bharat’ event on April 20 brings cultural icons, trailblazing women and leaders aboard a cruise to celebrate Bengal’s enduring influence.
MUMBAI: Bengal is about to make fresh waves on the Hooghly and this time the current is pure conversation. CNN-News18 is taking its iconic Town Hall format to the waters of the iconic Hooghly River on 20 April 2026 with a special edition titled ‘Bhalobasa Bengal – Inspiring Bharat’. The floating event will celebrate the state’s rich cultural legacy and how its ideas, creativity and spirit continue to shape the rest of the country.
The unique riverside setting draws on Bengal’s history as a cradle of reform, art and intellectual thought. The speaker line-up mirrors that diversity: cultural heavyweights Mithun Chakraborty and Sreenanda Shankar will share the stage with trailblazing “Devis” such as Tanya Sanyal (India’s first woman firefighter in aviation), Ipsita Chakraborty (Kolkata’s first woman bartender) and Reshma Nilofer Visalakshi (Nari Shakti awardee and marine pilot). Music will flow through the celebrated pianist-vocalist duo Sourendro and Soumyojit, while public life and governance will be represented by Smriti Irani, Leander Paes, Saira Shah Halim, Keya Ghosh, Rekha Patra, Roopa Ganguly and Babul Supriyo.
CNN-News18, editorial affairs director, Rahul Shivshankar, said the event honours voices that carry Bengal’s legacy forward. Smriti Mehra, CEO – English & Business News, Network18, added that Bengal’s stories resonate far beyond its borders, especially as the state heads into polls.
From the first woman to battle flames in the skies to legendary actors who shaped Indian cinema, the gathering promises a rich mix of inspiration, courage and candid dialogue. In a city where culture has always flowed as freely as the river itself, CNN-News18 is turning the Hooghly into a floating forum for ideas that matter.
Tune in on 20 April on CNN-News18, CTV and YouTube to catch Bengal’s heartbeat in full flow.
