Itc Launches New Brand
The Rs 7,000 crore ITC Ltd has launched a new brand, `Wills Sport', to spearhead its entry into the high-growth branded sports and fashion accessories business. The brand, to be formally unveiled this week, will be the umbrella brand for all ITC's future forays within this new business.
Cricket equipment and apparel, and golf equipment and apparel will be among the main products marketed under Wills Sport. ITC plans to sponsor major cricket and golf events to create awareness about the new brand.
The exclusive range of golf essentials and pro-shops which ITC launched recently under the Classic brandname, will also now be marketed under the Wills Sport brand name .
"Since we are planning a variety of sports and fashion accessories, we didn't think it wise to have too many brands. So, after some soul-searching, we decided that the strongest brand, which has an association with fashion casuals and sports should spearhead this business," Kurush Grant, ITC's executive vice-president, marketing, told Business Standard.
"Our strategy is not to take on competition head-on but to sidestep it and create more than just a niche", Grant explained. However, ITC clearly aims to be a huge player in this business and is already in the process of lining up local manufacturers to tie up with. " We will be sourcing from India, but for designing the equipment we will go to the best in the world", Grant added.
"We will also have patented technology for this, which would initially be imported", Sanjiv Keshava, manager, ITC's new business group, said. Endorsements by sports celebrities are also being worked out for promoting the brand. The effort is also synergistic with ITC's other venture, to get into retailing. While the "Wills Sport" products would need outlets, the retailing business would provide just the right connection and mesh into one combined strategy. Besides, ITC already owns the Classic Golf Resort, Gurgaon, rated as one of the finest courses in the country.
ITC's investments in this business, currently under wraps, would be large, Grant indicated. The company has already spent over Rs 100 crore in sports promotion over the past four years even when this new business did not exist.
To start with, "Wills Sport" will be launching the Wills Sport Golf Tour, India's first organised PGA tour spanning 23 top-class professional events in 18 courses. The golf market is the fastest growing, though cricket is a bigger one. The "Wills Sport" golf range will be made available at all leading golf clubs, sports shops and leading fashion outlets. Cricket will follow shortly.