Bombay Dyeing to open 50 premium stores

As part of efforts to reposition its retail business, Bombay Dyeing is all set to open 50 new premium stores catering to the requirements of customers from the metros and Category A cities.

Bombay Dyeing Chief Executive Officer (CEO) Ashok Kaul said that the new stores will primarily focus on the company's efforts to rebrand itself, a process it had started in 2013.

“Bombay Dyeing is changing, there is a turnaround in terms of products, advertising and retailing.

We were undertaking the franchise route to expand our reach in various metros. We have 360 stores spread across India of which 16 are company-owned. Now, we are looking to enhance our brand recall through the new format stores. Retailing has reached a certain critical mass in India and Bombay Dyeing should give it the right focus at this point of time,” Kaul said.

The premium format stores will be located in the metros and Tier 1 cities with space occupancy between 700-1,600 square feet. “We will showcase the entire gamut of Bombay Dyeing products like bedroom and bathroom products, as well as our linen products. We will position these stores in the high streets and the malls in major metros. We have opened six premium stores so far,” he said.

Kaul said that the stores will cater to different consumer segments through diverse design offerings. “There is a marked difference in design of the products with bold and vibrant colours and patterns. Last year, we launched seven new collections primarily targeted at modern consumers and the youth, taking inspiration from modern cities, art and design.” 
Kaul declined to comment on current investments. Bombay Dyeing is looking to give due importance to its franchise model business and will also focus on developing its own branded showrooms, he said.

“Through the ‘Change is Beautiful’ brand campaign, we are talking to consumers in their language, striving for an emotional connect. The brand and business transformation are being driven through retail,” Kaul said.

Textile retailing is growing in India with the advent of the government’s policy change on FDI. Besides domestic competitors, international players are making a beeline to expand their market reach and push business volumes through more stores.

Jeh Wadia, managing director of Bombay Dyeing, has already revealed plans to enter new segments to satiate the demands of different sets of consumers with separate sub-brands and offerings. Under his guidance, the company is restructuring its textiles assets into retail assets by forging a new brand identity and diversifying the product range.