FASHION ACCESSORIES NATIONAL
By IFAB MEDIA - NEWS BUREAU - April 24, 2023 | 158 11 minutes read
Accessories have the ability to pull the whole look together and make it unique. The Tie Hub showcases every category of men’s accessories that one can think of.
The brand is inspired by the quirks and complexities of the modern Indian man. Their specially crafted and artistically designed articles are a statement in itself; enhancing the enchanting personality. The Tie Hub promises unique styles and impeccable product quality. Each product is intricately and beautifully crafted with copious amounts of care and passion to truly leave a lasting impression.
To see more creative passion behind the brand, we met Vishal Khetani, Director, The Tie Hub who narrated his story which quickly caught our attention. He narrated his smart expansion plans with his brand’s unique design approach. He quoted to start this interview, “Our aim is to provide our clients with accessible, affordably priced, premium quality accessories at par with international standards and develop an open and loyal relationship. Our motivation lies in the desire to make sure our customers never have to compromise to get the look he truly deserves and we hope to have them by our side on this upward journey.”
Tell us more about The Tie Hub, how did you click upon the name? Did you have a prior experience in this particular business and how has been your overall journey?
We started some seven years back with The Tie Hub carrying my inclination towards fashion. Before coming to India, I was based in Kenya. Here, my everyday dressing used to be a proper suit with a necktie with some amazing collection in my wardrobe. My journey in India started with experimentation of lot of businesses, and one of them was neckties. During its start, my company used to sell things online on eBay and Amazon, with one of the category as necktie and cufflinks. We saw a nice consumer growth graph inclined towards these products.
Moving ahead, when we started researching the Indian market closely, we observed a very monotone style with neckties which was of a basic degree. We wanted to give something new and started with linen and cotton neckties on which we got small turtles and moustache printed that became an instant hit. It was now clear that our brand could break this old code and bring a fresh approach in this product segment.
How many product stock keeping units (SKU) you currently have in your basket?
Our product category has around 13 to15 different categories in men's accessories. If you look at neckties, we have around 800 to 900 different SKUs. In cufflinks, we have another 400 to 500 SKUs, like mother-of-pearl to quirky collection.
Even in tie bars, we have somewhere around 50 to 60 different SKUs. We design tie bars with a theme for e.g. you get a fish bone, a fish hook, something like this, a fun element attached to it. Apart from this, our brand also has pocket squares, suspenders, bow ties, hats, caps etc. We are known for our exclusive designs and product varieties. So, take for example, our product like a bow tie; we have this in sequins material, we do this in silk and pure wool too. In short; we play with a lot of materials to give extraordinary choices to our consumers.
Our average price point in a necktie starts anywhere from Rs 800/- and goes up to Rs 12,000/-. Our cufflinks and pocket squares start from Rs 600 and end at Rs 4500/-. Our higher ranges of cufflinks have design elements for e.g. like a watch mechanism, made out of a skeleton of a Swiss watch and its gears, which looks very rich.
So what are your product expansion plans?
Right now, we just want to focus with men's accessories. We introduce our designs in a gap of every four months in every category. Our collection also has an elastic woven belt collection which goes well with denims and chinos. The Tie Hub is soon getting some exciting head collection, which is not available in India. We also plan to launch some accessories like the money clip collection.
What are your retail numbers, starting with how many exclusive brand outlets (EBO) you have? What is the average size of the store right now?
Normally at the time, when we open our brand store, we always see two things; size and its location. We normally prefer to go with the high street market with an average store size from 150 to 250 square feet.
Currently, we have 3 exclusive outlets in Mumbai; one in Juhu, second in Bandra and third in Kala Ghoda. Then, we have 3 franchise stores which are in Ahmedabad, Surat and Chandigarh.
Tell us about your franchise model?
In our franchise system, we do everything which is against payment only. We don't have anything which is like a consignment model. The franchise partner has to invest and we give full support of the stocks.
So, how many more exclusive stores are planned?
Our expansion with our franchise model will happen as and when it comes. But with the company owned and company operated (COCO) stores, we are planning five new stores within the next two years. This year we will be opening two stores. Our targeted markets are Delhi, Bengaluru, Hyderabad, Kolkata and most probably Jaipur. The average ticket size of the store will be 150 to 250 square feet. We are open to get offers for shop-in-shop (SIS) in good markets and key places like airports etc.
Share about your retail presence through online marketplaces?
We retail through our own website, which is the www.thetiehub.com. Then, we are available on marketplaces like Amazon, Myntra, Ajio and Flipkart. The Tie Hub only chooses partners that have their inventory management process in place.
Anything more on your retail expansions?
Yes, we have recently closed a distributorship in United States. We are coming up with the website www.thetiehub.us for USA soon. Our international distributor is going to supply The Tie Hub products to many bespoke tailors in this country. Moving ahead, they will be expanding the same thing in Canada.
We are also planning to open up international shipping to UAE market with our own e-commerce portal.
Where do you see your brand 5 years from now?
We want to be a one-stop shop for men’s accessories. We do a lot of celebrity styling, who wear our products. Many existing brands do not invest in the necktie category so much as we do. These brands are generally focused on their financials; whereas we are different in our approach. The Tie Hub has been clocking a 100 percent growth every year and is looking to a great future ahead.