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brand’s message. Today, brands must have a TB: What’s fascinating about India is the
clear purpose that resonates with consumers, emergence of different layers of purchasing
but execution is crucial. Many brands fail because power, each with its own specific target
they lack discipline in this area. For example, markets. Given its size, India obviously has a
Lacoste’s headquarters and CEO excel in high-end luxury market that’s comparable to
maintaining the brand’s integrity while evolving what you would find in Europe, the Middle
its message. This consistency is seen in other East, or Asia. There’s also an emerging
global brands like Nike, Ferragamo, and Calvin opportunity for our premium brands, like
Klein. These brands stay true to their values, never Calvin Klein or Lacoste, as people move into
just following trends, which helps them succeed. the growing middle class and become more
Our role is to ensure that the same discipline is familiar with these brands. In the entry-level
applied when we acquire and work with new segment, brands like Scott for instance cater
brands. If these brands succeed, we succeed, to the premium entry market. So, there are all
which is the foundation of our licensing business. these different layers in terms of pricing and
value that we can address. The market, with its
TIO: In your experience, what are the biggest size and scale, has the potential to make these
challenges when managing a multi-billion- dollar layers meaningful. That’s quite unique.
brand portfolio across different regions? How do
you ensure brand consistency while also adapting TIO: How do you see the Sterling Eyewear
to local market needs? joint venture driving growth for Marchon here?
TB: One of the first challenges I encountered TB: Well, first of all, let me take the
at the company was defining clear roles for opportunity to compliment Ketan Parikh and
each brand in our diverse portfolio of about 40 his family. We couldn’t have asked for a better
brands. To address this, we introduced a brand partner than Sterling MetaPlast India Pvt. Ltd.
segmentation approach, categorising them into India, as a market, requires local expertise,
fashion, lifestyle, and performance. Each category and it would have been a mistake for us to
is handled with a distinct strategy. For example, enter without that. I suppose at some point,
performance brands require a different product we may have thought we could come in from
development and market approach compared to the outside and conquer the market, but
fashion brands. finding the expertise that Sterling brings has
Additionally, we classify brands as global or been crucial to our success. We’re very happy
regional. Global brands like Nike, Calvin Klein, with the arrangement we have, as it combines
and Lacoste must be promoted in every market, the best of both worlds: we bring global
while regional brands such as Liu Jo are focused brands and the ability to scale, while Sterling
on specific countries like Italy, Spain, and France provides local expertise selectively – not only in
where it contributes to a significant portion of understanding the market but also in knowing
our sales. This allows us to allocate resources which products are right for local needs.
efficiently. That’s a fantastic combination, and I believe
Our strategy avoids overwhelming teams it will serve us well, and this partnership will
with too many brands. Instead, we encourage benefit us for many decades to come. We
countries to focus on 5 to 6 brands that are most see huge potential in India, which is right at
relevant to their market, ensuring resources the top of our list. In terms of market growth,
are properly distributed to maintain brand opportunities, and the number of people
consistency while adapting to local needs. This entering the market for vision correction
structure allows us to be selective and strategic in for the first time, this is what excites me. Of
our approach. course, this doesn't mean it will be without
challenges – there's a lot of competition.
TIO: What has been your impression of India However, the long-term potential is substantial
and its contribution to the eyewear market? enough to justify our investment.
100 | THE INDIAN OPTICIAN | NOV-DEC 2024 INTERVIEW
