Abstract
It is evident that among more than 5000 Indian lifestyle brands, only a few brands have created true lifestyle brand image in their employees, investors, competitors, and consumer’s minds, and the trueness level of a majority of Indian lifestyle brands is still in question. The majority of developing and developed Indian lifestyle brands assume that the success of a lifestyle brand is measured basis the revenue or profit they generate and are unaware of implicit long-term strategical benefits of creating a true lifestyle brand image in consumer’s minds. In India, the lifestyle category has also become one of the most sought-after categories for many start-up entrepreneurs. Just because there is an evident gap for a certain lifestyle product category in the market and just attempting to fill such a gap does not guarantee sustainable success. India indeed is one of the countries with consumers belonging to the widest range of Religions, Regions, Languages, Sub-Cultures and Economic backgrounds which makes it very difficultfor any lifestyle brand to own a true lifestyle brand image at National level and makes itfurthermore important for them to be more careful and efficient in ensuring adaptation of rightconsumer-level evaluation techniques and tools to regularly measure a brand’s the truepotential in attaining a sustainable profitable stage of its evolution. Both new and existinglifestyle brands in India inevitably require investors to fund their journey of attaining the finalstage of evolution which is known as a sustainable profitable stage. However, in the absenceof any inputs-driven consumer-level measurement instruments, investors are in a quandary togauge, estimate and forecast the true potential of lifestyle brands in India from the consumerpoint of view before they make any investment decisions and usually most of the investorsfollow traditional brand equity or valuation methods which are mostly skewed toward outputdriven measures and sometimes they are misleading. In this exhaustive empirical study, wehave studied a few select lifestyle brands, investors and investments to identify 68inputs-basedsub-elements across 4 key elements and 3 dimensions to design a simple consumer-levelinstrument named as CL-LBSi, which would measure the true potential of a lifestyle brand inIndia irrespective of the brand’s current age in the Indian retail market.
Highlights
Despite various issues faced by existing and potential investors in measuring and evaluating the true potential of lifestyle brands in India to gain the true lifestyle brand image among employees, investors, competitors, and consumer’s minds, many start-ups and established lifestyle brands of Indian origin have attracted investors
In this exhaustive empirical study, we have studied a few select lifestyle brands, investors and investments to identify 68inputs-based sub-elements across 4 key elements and 3 dimensions to design a simple consumer-level instrument named as CL-LBSi, which would measure the true potential of a lifestyle brand in India irrespective of the brand’s current age in the Indian retail market
We have observed that a) many investors and investments in Indian lifestyle brands have gone through a learning curve over last five years, ii) investors are trying to find better ways to evaluate the true potential of Indian lifestyle brands, c) the majority of investments are attracted by lifestyle brands whose business model is predominantly skewed toward online retailing and, d) month-on-month revenue growth is given more preference over unit economics of these brands
Summary
Despite various issues faced by existing and potential investors in measuring and evaluating the true potential of lifestyle brands in India to gain the true lifestyle brand image among employees, investors, competitors, and consumer’s minds, many start-ups and established lifestyle brands of Indian origin have attracted investors. To name a few Levi’s, Zara, United Colors of Benetton, Marks & Spenser, H&M, Mother Care, Carter’s, Puma, Nike, Adidas, Reebok, Armani Exchange, Diesel, Gas, Gap, The Children’s Place, Quiksilver, Superdry, Kappa, Bossini, Calvin Klein, Hanes, Tommy Hilfiger, Ed Hardy, Izod, Nautica, Arrow, U.S Polo Assn, Jack & Jones, Vero Moda, Tumi, Lee, Hero, Maverick, Wrangler, Fila, and Jockey Unless these Global lifestyle brands explore sourcing their products predominantly from India, competitive pricing remains one of the key challenges as far as their sustainable success in the Indian market is concerned. The majority of lifestyle brands in India offer just one of these and very few caters to multiple products offering to multiple consumer groups
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