The Hindu Business Line : Nautica addresses price gaps to woo buyers

Bangalore, Dec. 6 Lifestyle brand Nautica is looking to reach out to customers seeking value with “attractive” price points. Although this does not translate into a slash in price, the brand is coming out with newer price points to fill in gaps in the existing price structure .

For instance, the company this season has introduced the Rs 1,895 price point in woven shirts to tackle the gap between the Rs 1,695 and Rs 2,295 price points. Similarly, it has come out with jackets at Rs 3,495 to address the gap between Rs 3,495 and Rs 5,495. More price points have been brought in for product categories like T-shirts and sweaters. The company will continue this strategy for a few more months.

Mr Dhruv Bogra, Business Head-Nautica, said, “The Indian consumer is not price sensitive. He is willing to pay more as long as there is value for what he gets. But then again, he is willing to pay only that much.”

He added that through a well-positioned pricing strategy Nautica hopes to attract new consumers who seek value in order to build a long-term loyal relationship. “We don’t believe in short-term strategy of dropping prices to woo consumers. We will continue to target the high end of the market.”

Apart from introducing price points, Nautica, a brand marketed by VF Arvind Brands, hopes to enhance the value of existing products through better features and finer finishes.

Nautica’s pricing strategy comes at a time when international brands like Marks & Spencer have reduced prices to attract buyers.

Nautica is planning an aggressive retail and marketing initiative. It plans to have 20 stores (both Exclusive Brand Outlets and shop-in-shops) by December next year from the current eight. A loyalty programme is also on the anvil, said Mr Bogra. The brand is also sponsoring the boat regatta (sail boat race) at the Mumbai International Boat Show to be held in February.

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