Future Style Lab, the newest subsidiary of Future Group. is all set to make a mark in Indian fashion with a design team headquartered in London. The first store opened in Mumbai; the secong opened in Noida last week. Pallavi Rebbapragada spoke to CEO Manjula Tiwari about what to expect from Future Style Lab.
How is Cover Story’s ‘Fast Fashion’ going to impact the fashion retail scene?
We’re about fast fashion, about getting catwalk trends and styles that appear on blogs and Instagram to Indian buyers within eight weeks, courtesy our trend forecasters in London who keep track of the changing trends in global fashion. But immediate accessibility isn’t the only factor at play here. Since our client is the Indian girl, we create clothes keeping her in mind. The neck drop and arm holes are adjusted accordingly; the length of the dresses are tweaked since girls tend to be shorter here than in the West.
How is the Future Group’s familiarity with the local consumer coming in handy?
Our first store in Mumbai is doing really well. Since we have an insight into the Indian consumer’s psyche, our price point is competitive. It ranges from `590 to `3,500. We are planning to open 50 stores across India within the next four years. We want to become an important India-centric brand in an underserved market that is cluttered with foreign brands. Our distribution network works in our favour.
How important is it for brands to be tech-centric?
Very. We’re still in the pilot stage, but the goal is to generate a huge wave online. Our website will be up soon and our products will be present on the Myntra portal too. The touchscreen in our store showcases global trends and lets buyers develop and share their style on social media. The Indian girl, like any other girl in the world, wants to be the first to flaunt a global trend online and we’re going to make sure that happens.