From leaves to fabric: The beauty of Econic

Hemverna Dwivedi, Rohit Kushwaha, Pradeep Joshi, Masood H. Siddiqui, Manish Mishra

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Case Studies
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This case describes the challenges faced by the co-founders, Sanghamitra and Mayuree, who introduced a sustainable fashion apparel brand called Econic. Marketing and sales of Econic’s products came with a bundle of challenges, and it was not easy to convince customers about the authenticity, quality and pricing of these products. Indian consumers had less awareness of the value of sustainable fashion clothing thereby presenting a huge challenge for Econic to flourish and sell their products in India. Thereafter, the brand aimed at expanding beyond the geographical boundaries of India. This further led Econic to face a cutthroat competition from various established players with comparatively huge market shares. Majority of Econic’s sales arose from expatriates or outlanders. Considering the response of local impediments and constraints from India, Sanghamitra began targeting the foreign markets. She saw global expansion as an opportunity for driving the brand’s growth. Eventually, Econic witnessed nascent success when the founders started exporting their products in the markets of UAE [1] and USA [2]. Contrarily, the brand’s co-founder Mayuree felt that it was too early for the brand to enter international market, and instead, it would be more sensible to focus attention in India itself. The approach of both the co-founders seemed paradoxical. At one point, Econic was facing a fierce local competition for their products. How could the brand increase awareness and acceptance of its products was an area of concern for Sanghamitra. Second, expanding into international market posed certain other challenges. The key dilemmas encountered by the co-founders continued to remain that which growth strategy should Econic adopt; how could Econic ascertain to set foot into which market; what were the likely scalability challenges they faced by entering international market; and what could be the finest marketing strategy for their brand.

Subjek

TEXTILE INDUSTRY
 

Katalog

From leaves to fabric: The beauty of Econic
ISSN: 2045-0621
20p.: pdf file.; 4,1 MB
English

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Pengarang

Hemverna Dwivedi, Rohit Kushwaha, Pradeep Joshi, Masood H. Siddiqui, Manish Mishra
Perorangan
 
 

Penerbit

Emerald
New York
2024

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