How Active Wear Segment is Developing its Retail Footprint Speedo Aims at Fixing its space in the Fitness Wear Segment
This story originally appeared on Franchise India
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Revenue in the Sports & Swimwear segment amounts to US$3,393m in 2018. The market is expected to grow annually by 11.0% (CAGR 2018-2021).
Speedo aims at growing stores and increasing its retail footprint. It aims to touch 50 stores this fiscal year.
Shamir Genomal, Executive Director and Chief Strategy Officer, Page Industries Limited, and Speedo, says, "The fitness industry is at its peak at present and so is the activewear market, the next five years will see an increase in demand for sure given that people are experimenting with different forms of fitness."
Having Celebrity Face on Brand
The youth and teenagers are highly active on social media and feed on everything it offers especially what their youth icons offer them.
That is one of the reasons why celebrity become the face of a brand and is considered one of the recent trends in business growth, by which the brand and celebrity benefit each other by sharing the fan base.
Genomal explains the benefits of adding a celebrity face to a brand as, "Firstly, category development for a brand like Speedo. Next is reach especially since a celebrity has mass appeal (Parineeti Chopra x Speedo) and the power to influence his / her fans."
A well-known celebrity has his/her own fan base who follow him/her and many a times end up buying the things they endorse, such as the celebrity power on a brand's growth.
Uniqueness and Promotions Walk Hand in Hand
From high tenacity multi-colored yarns to UV-protection swimwear, companies have raised the innovation bar in the last decade. It is not only the design that matters, but fabric and performance are also a priority. Also, right promotion tools can take your brand to heights leaving the rest in the bottom space.
Genomal says, "We as a swimwear and swim accessories brand don't only focus on swimmers but on the fitness industry advocating swimming and Aquafitness as an important form of fitness helping us reach out to a wider consumer base than a niche one. Our umbrella marketing campaign talks about the same thing through #GetSpeedoFit. We promote Speedo as a fitness brand and that's what has helped us stand out amongst other swimwear brands."
The article was originally published on Franchise India by Nibedita Mohanta.