New Delhi [India] Aug 18 (ANI): On the occasion of India's 74th Independence Day, World of Own Brands (WOOB) announced its official launch through an online webinar Freedom from Brands and Private Label: An Opportunity or Myth! WOOB also launched their Content arm in the form of an
e-Magazine, in the presence of industry leaders. WOOB aims to bring together manufacturers & buyers of white labels & private labels and solve the fragmented supply chain of small-scale manufacturers while the e-magazine will help SME, MSME OEMs, exporters, retailers, buyers and service providers to collaborate.
The online launch event was graced by the participation of industry leaders from very diverse backgrounds like retail, e-commerce, FMCG, contract manufacturing, and global product development agencies. The launch webinar was moderated by Jamshed K Daboo, Start-up Mentor & Board of Director Trent Hypermarkets.
In this innovative and informative online launch event, various industry-relevant questions were addressed by ace industry leaders, like talking about the role that 'Private Label' plays from a retailer's point of view.
"India is a very diverse country and so are customer needs, a retailer will not be able to meet all needs of the customers if Own Brands doesn't exist," said Kamaldeep Singh, President - Food & FMCG - Future Group.
Sharing about Grofers Brands and how they attend the unique needs of the customers. "Own Brands lifecycle changes as the lifecycle of a retailer evolves," said Bikram Singh Bedi President - Strategy & New Initiatives - Grofers.
"It's a healthy mix of Own Brands and National Brands for a retailer, they complement each other and technology helps to identify the gaps with respect to customer needs viz. price or quality and thus Own Brands is a great way to get people to start trying the category and. He further advised that Private Labels should formulate a large chunk of retailer's profit," he added.
"Whatever brands Big Basket build is not only taking into consideration Indian brands but also what the globe is doing. Consumers are ready to try today. A lot of research goes behind developing a product which is as good as any FMCG company," said Vishal Das, Vice President - Group Category Head - bigbasket.com about the Quality Assurance promise of Big Basket Brands.
"Every time a customer visits a retailer, they always buy a private label product which was not the case around 20 years back. A private label is a key driver to generate differentiation and loyalty. Private Brands are experiences and values which allow the consumer to think about the specific company," said Pedro Carmo, Global Sourcing Director, Daymon while sharing the experience of international markets.
"It's an opportunity of having a collaborative strategy wherein manufacturing and supplying private-label along with Nilon's branded products, which helps to capture maximum category share as a manufacturer," said Dipak Sanghavi, MD Nilon's about Private Labels manufacturing while running a successful brand.
"Big brands are about costs which in turn get compensated by volumes offered by them, newer players are looking forward to purposeful products, innovative products, environment-friendly products, etc. Rossari is helping companies by offering them innovative replacement of traditional formulations using its ODM model," said Sunil Chari, Managing Director Rossari Biotech, as a manufacturer.
Bobby Raymond, Strategic Account Director, TraceOne, described the importance of millennials becoming an important segment, which is looking for innovations in products like plant-based, vegan, etc. and also responsible products, clean products or products with purpose and private brands can quickly respond to such consumer demands.
"Whichever product is good it will sell and a brand is made by consumers," said Pankaj Kapoor, Head - NPD and 3P Operations, Marico Limited on the threat being posed by private brands to FMCG brands.
He further spoke about, private brands as an opportunity as it helps to get consumers into the consumption cycle of a category or product and it's a collaborative state as if a private brand is doing good then it's a learning for us.
There was a lot of other information sharing from the industry stalwarts around:
* Retail business
* Diversified retail formats
* How to grow along with retailers
* Change in consumption patterns towards health & hygiene during COVID 19 etc.
The power-packed webinar was followed by the launch of India's only e-Magazine for Own Brands & Private Labels.
The launch webinar ended with, Vicky Menzes Co-Founder of woob.in detailing the purpose of the magazine. Saurabh Bohra, Co-Founder WOOB while sharing his thoughts around commerce platform which is to be launched next, reiterated the clear thoughts around the purpose of WOOB towards enhancement and upliftment of SME, MSME brands from Local to Vocal and then Make to Global.
Minesh Lodaya, Co-Founder WOOB shared his thoughts around the technology solutions used in constructing the e-magazine word to word & tech-tools to be used for future verticals viz commerce, create & connect.
This story is provided by CONNECT360 PR. ANI will not be responsible in any way for the content of this article. (ANI)