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Welspun to unlock market potential with new branding, pricing strategies

Welspun to unlock market potential with new branding pricingOne of the largest suppliers of home textiles to global giants like Walmart and Target, Welspun is on a mission to change the way Indians use their linen, particularly towels and bedsheets. The homegrown company, which aims to be a Rs 500 crore brand by 2023, recently launched a new brand called Welspun, whose low inventory business model and reliable market strategy will surely help it to achieve sales targets faster.

Keeping in view its growth targets, the company appointedWelspun to unlock market potential with new branding pricing strategies Bollywood superstar Amitabh Bachchan as its new brand ambassador. Bachchan will lead the brand’s new ad campaign showcasing a new range of towels, bedsheets, carpets and also floor tiles. The ad campaign, with a tagline, ‘Badal dalo’ has been created by Leo Burnett. It kicked off with two films starring Bachchan.

Technical advancements to tap market potential Welspun operates in a category which though highly penetrated by numerous regional players, has failed to create any national brand or even awareness in the market. The company, therefore, has a huge market where it’s technological and manufacturing advancement would help create a mass-brand. To tap this growing potential, the company conducted mass research across several Tier I and II towns including Mumbai and Delhi before launching the two-in-one reversible bedsheets priced at Rs 799.

These bedsheets are available across all home-furnishing outlets across the country. The company is reaching out all hitherto unexplored regions. Its products are currently available in 2,500 outlets across 35 cities which it plans to further expand to 100 towns in a year’s time.

Catering to the mass market

According to Anisha Motwani, Managing Partner, StormTheNorm Ventures, who is also an independent director on Welspun India Board, the true potential of this category can be unlocked by applying the rules of commodity branding, which also involves making sure that their price is right. She opines that although most brands have so far treated this category with premium and luxury marketing codes it also caters to the middle class which requires towels and bedsheets in large quantities.

This translates into a huge business potential, as consumers typically buy commodities based on price- premium items are meant to be expensive, whereas basic items should be priced attractively. So far, most brands have treated this category with premium and luxury marketing codes, but the category is as mass as it gets. After all, everyone needs a towel and a sheet. This growing demand, if tapped with a sound business model and an attractive offering, can translate into a huge business potential for brands.

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