Tangerine, the designer brand for home solutions category, also a part of Indian Home Variations & Distributions LLP, has been appointed as the authorised licensee for Sanjeev Kapoor branded products. In a candid conversation, Rajiv Merchant, co-founder & CEO, Tangerine revealed why licensing is an effective retail strategy for them.
How has been the journey of Tangerine so far?
Business, in general, has been good. We launched this brand two-and-a-half years ago and there is still a lot of growth potential as we are in the initial phase of the brand. Otherwise, I won’t say that market is great, but because we were a new brand and had some deals in the initial phase, there was a sizable growth for Tangerine.
How has been the response for Master Chef Sanjeev Kapoor collection?
We started in a small way. We are taking care of kitchen & table linen and accessories. Market response has been good. We are running out of stock and have begun production of new batch. Brand Sanjeev Kapoor (BSK) is extremely credible with the target audience and I think authority on cooking in India with a tremendous footfall has been getting a good result of that level.
What inspired you to try out brand licensing?
In past, we have done quite a few brand licensing. As a corollary to that, we have had Disney, Mattel and some other brands, we understand the power of an influential property and how to leverage that. When we got into the adult business, we realised that for anything related to cooking, Sanjeev Kapoor is a formidable brand in India and we must leverage it. It has been pretty easy for us because this has been a good business and BSK is a powerful brand that has proved its mettle with other formats like Wonderchef.
What other brand are you planning to add to your portfolio?
As of now we are not looking to add more brands but are just focusing to make the most of the available brand.
Talk to us about your retail strategy.
We sell at modern retail formats like HomeTown, @Home, Home Stop and large stores like HyperCity. We are also retailing through premium multi-brand outlets across India. These two contribute a major part in our business and e-commerce is a small component as of now.