Carbon diversifies its brand glitter. | |
| After nine years of carving out a share in India's small but growing branded jewellery market (organised manufacturers currently own 4 per cent of the entire jewellery market), Carbon feels its time for consolidation of brand perception, not for discussing market share. |
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| Besides announcing its decision to be the official jewellery accessory brand for the Lakme Fashion Week to be held in Mumbai next week, a strategic marketing initiative, Carbon has decided to expand its product stable and launch a range of leather handbags and accessories. |
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| "Expanding our product line," states Utsav Malhotra, brand head, Carbon Accessories, "is less about market share capitalisation and more about wanting to be seen as a brand that addresses the complete accessory needs of our target audience." |
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| He continues, "Besides, there is a distinct synergy between leather accessories and jewellery." |
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| The leather products that include handbags and other small accessories, fashioned from Italian leather, will be designed by a roster of inhouse designers; however, the production will be outsourced to an existing manufacturer in Delhi. |
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| Explains Malhotra, "We're a design driven company, so it makes sense for us to do what we're best at. Then there's also little capital expenditure." The pricing? The leather products will sport price tags of up to Rs 7,900, and will be retailed at all Carbon outlets. |
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| Carbon has traditionally looked at cross promoting its jewellery with other branded lifestyle products such as clothing and cosmetics, operating shop-in-shop outlets across 18 cities in India. |
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| However, starting last year, Carbon launched three standalone stores in Bangalore and Delhi, and will take that number up to 40 stores over the next 18 months. |
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| "Our focus this year is going to be on retail. We have streamlined our thinking with regards our target audience and target markets, and we're satisfied with the fact that we today target a young, urban audience," explains Malhotra. |
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| "We want every Carbon store to be seen as a fashion accessories destination," he adds. |
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