Our obsession with foreign brands
Our obsession with foreign brands
Do you know how much royalty and importance you pay to foreign brands?
The top apparel brands in India are mere subsidiaries to foreign trademarks. As a franchisee, they are selling branded goods to customers, the brand which is owned by Non-Indian groups. We as customers are not aware or care about how the cash flows within the so-called 'branded companies'.
In the whole process, royalty outflows paid by Indian subsidiaries to the parent organization have been swiftly escalating even amidst economic slowdown. A surge in this pattern occurred after the liberalization of FDI policy in 2009 before that royalty payments were capped and regulated by the government. There are a number of elements for which royalty is paid to foreign collaborator and it is hidden in your shopping bills of any international showroom.
This trend was the reason for the government to initiate 'Make in India' campaign in 2014. To lift the domestic economy and hold the flow of money within our nation are the prime objectives of this initiative.
Before getting into the depth of the matter, we need to analyze the thinking-process of a customer and how s/he is influenced in the process of shopping.
Do customers choose a brand based on its origin? Are they even aware of the parent company owning their favorite brand? Empirical evidence shows that most of the customers do not choose a brand based on its origin and they are not even aware in the first place whether the brand they usually buy is foreign investment.
Globally, local players are increasing every year. Start-ups within the country are growing faster than multinational brands. The reason behind this shift is that customers trust the local brands which can compete in terms of quality and pricing. The value a particular label offers and the experience with it also matters.
For instance, Classic Polo was established in 2001 and consistently grew in the past 19 years even when multinational companies in its field, men's apparel, were facing losses in the past few decades.
How can an Indian consumer boost the domestic economy?
Indian brands have an edge over foreign ones because they know the culture and specific requirements of the people. In India local brands comprise 57% shopper decisions, most of the time they are widely available and frequently preferred by buyers.
Your decision to shop from an Indian brand's store can be a small step towards investing Indian rupees within the nation. Nowadays, buyers have the trust that local brands can compete in terms of quality and understand the local audience better.
Like Classic Polo products were manufactured keeping the Indian men and their fashion needs in mind.
Purchasing 'Made in India' brands can boost the Indian economy and our currency will get stronger with time. Our conscious effort should be to research and analyze the brands available in the market and then decide why you should select a local label over the foreign franchisee.
Why we should try our best to opt for home-grown products?
Most of the times consumers have a myth that all the overseas or imported items are better than the regional ones. But that is not the truth, our industrial and manufacturing technology has drastically improved and can compete with any given global set-up.
Be well informed, there are immense choices which cater to different problems and offer refined options. They are highly customized and oriented to solve local issues or suit their palates.
Regional choices are more culturally attentive and can adapt easily to changing behavioral patterns within India.
What we can learn from China?
A few years back Chinese buyers used to believe that international brands stand for premium quality, even Indians have a similar belief today. They used to ascribe high status and glitter to imported goods or foreign brands, no matter if it is manufactured within the home country. At times, they were not satisfied with local labels or simply didn't want to try it.
In the current scenario, the myth has been busted and it has completely changed China's economy, they are no longer hesitant towards domestic products. The Chinese government has supported national companies and promoted them on a large-scale. This has led to better quality that is challenging their overseas competitors. Consumers have faith in local products and do not compare them to imported items anymore.
Home-grown products provide value for money and are easily available on e-commerce. Shoppers are willing to pay more for excellent quality and satisfaction of their desires & needs.
Why we should associate Indian pride with national brands?
Are we satisfied with the Indian brands and what they have to offer to us? Why do we choose a foreign brand over national? Is there an inferiority complex within us to display local labels even if it matches the quality of imported?
We have to introspect on why we prefer the stamp of the foreign trademark over an equally qualified domestic one.
We have all the right reasons to associate ourselves with domestic brands and purchase Indian-origin products as a contribution to uplift the Indian economy and be proud of our culture.
Locally manufactured goods are beneficial to the economy plus premium quality is exported which can turn the flow of capital from overseas to India.
There can be no better promoter for a brand then its customers. If Indians are honored to don national brands and make other countries aware of our unique entities with USPs, it will create a movement of pride and respect for domestic players and positive vibes within Bharat which will echo at the international level.
Classic Polo- An Indian Home-Grown Brand
Marque of the people, by the people and for the people of India. From top management to the employees of Classic Polo, everyone is a proud contributor to produce for Indians. Although, our parent organization also manufactures for foreign brands our heart goes out to Classic Polo for one reason that is being solely an Indian trademark.
6000+ people of the whole organization are working tirelessly day & night to satisfy the fashion taste buds of Indian men. It is not an easy task as it is a competitive field but we have successfully completed 19 years in the industry and promise to continue so in the future.
We dream of styling our patrons with the latest global fashion trends every season. Millions of customers have entrusted our brand and approved the quality with complete gratification and they stayed loyal over the years for similar motives.
Classic Polo feels obligated in a positive way for our clientele and their expectations from us. With 150+ exclusive showrooms and thousands of multi-brand outlets throughout India give us the confidence to be our best every season through fresh designs and economical price range.