Understanding the luxury fabric market, we indulge in an interaction with Vikram Mahaldar (MD & CEO, OCM Private Limited) who sheds light on the future of luxury fabric market across the globe post pandemic. He also takes us through the retailing techniques best suited to luxury brands and highlights the brand’s outlook for 2021.
Tell us about Moda Biella. What inspired you/your team to introduce Moda Biella to India? What was the purpose/ mission behind it?
The city of Biella has a rich historical significance and has impacted the textile industry manifold. That very history of Biella is synonymous with Moda Biella. Such the heritage of craft, skill, natural fibres, beautiful cloth, of style, of elegance, and the heritage of distinction.
Having been part of the Indian textile industry for several decades, there was a very specific niche that was a white space in the luxury fabric market segment and it was the perfect fit for Moda Biella. The mission of Moda Biella has been to bring really exquisite products to the Indian markets which are beyond compare.
What is your take on the future scenario of your segment in the domestic as well as global market due to Covid-19?
The Moda Biella team believes in resilience. And that comes through our optimistic mindset.
Sensing the pulse of the luxury fabric market, we have been able to actively capture a share of heart, mind and wallet. There has been a resurgence of consumers spending and propensity towards the brand.
We expect customers investing in good quality, durable fabrics perhaps with utilitarian treatments like anti-viral, anti-wrinkle and so on. With markets and business slowly resuming normalcy, we can notice a rise in some of our product ranges for jackets and womenswear too.
How Trend Forecasting report is important for Indian Market? Do Indian consumers still follow trends in this Pandemic Time?
Trend forecasting has been crucial in the Indian market – pre, during and post pandemic too.
At Moda Biella, our insights are a compilation of various sources including international runways, global reports, our domestic and international buyers and influencers – much like Bollywood for the Indian market.
Moda Biella has an equitable mix of these products to reflect both classic and contemporary styles. For example in terms of designs, we have the classic solids to the more contemporary micro structures. Similarly, in colour, we have the blacks/greys/blues/browns which are timeless to the more modern colours like salmon, turmeric, toasted almond and so on. Having said that, Moda Biella has a very large spectrum of colours to choose from which will truly make the customer spoilt for choice.
Broadly speaking, Indian customers follow trends as its entrenched in their mindset. So there will still be particular colours that sell well only in particular areas. During this phase, we noticed a preference of more staple colours for suits and jackets initially and when the unlock came to be is when we saw a rise in the more experimental colour ranges including oranges, purples, pinks and greens.
What are the retailing techniques best suited to a brand as luxurious as Moda Biella?
Our business associates span across the nation. Our prime brand ambassadors and we are very fortunate to have such a closely knit circle of customers to work with.
We have plenty of retail-driven communication like PoS made with luxurious fabrication, top-class glow sign boards and videos.
We have really set ourselves apart with a series of booklets for infotainment called Weaving Stories, Tailoring Tales, Lana Fresca and our latest on Sartorial Yarns.
The intention would be to share our knowledge and brand vision with our customers so they understand the heritage and our products better.
We also jumped onto the digital bandwagon with a series of videos and fashion tips – rolling them across multiple media.
Apart from advertising, our strength lies in our product and our exemplary service. A lot of new age techniques to connect with our trade partners, present product and customise solutions for them held us in good stead and further enhanced our goodwill.
The brand’s outlook for 2021
With the market revival, it seems likely that there will be a continuation in consumer spends as well. Towards this, we have a very cohesive outlook for 2021 in terms of –
- Product: A new range specially designed keeping in mind the consumer preferences have been designed. A fresh take on summer with many shades and designs and patterns has been envisioned.
- Partners: In an effort to strengthen existing relationships and to broaden our horizons, we are actively looking at different partnership models that can bring our brand promise and product to the end customer.
- Innovation: Most importantly, this year will be about innovation – be it advertising, product or even new distribution strategies.
Italian Luxury Brand Moda Biella (Moda Biella- Launched by one of India’s largest fabric manufacturers, OCM- The company’s ownership lies with the promoters of the Donear Group.)
