BRAND NEWS VALUE ENGINEERING MENS WEAR NATIONAL
INDIA
By IFAB MEDIA - NEWS BUREAU - May 12, 2023 | 137 6 minutes read
Powerlook was born out of a simple desire: to produce beautiful clothing at accessible prices. With a distinct preppy edge, Powerlook stays true to its word, catering for the man-about-town who focuses on the best style, comfort and affordability. This formula has proved successful since its 2010 launch, currently having their stores in Andheri, Borivali and Thane in Mumbai. The brand went into its e-commerce operations since 2017. Today, Powerlook is one of the fastest-growing e-commerce brand in India which offers a unique range of men’s street wear with a shade of western touch.
Founded by Amar Pawar and Raghavendra Pawar who are true trendsetters say, “We entered the men’s casual wear category to offer a product trend that was different from the regular clothing range available at other retailers and brands. We are not only the pioneers of our product range in India but have also set the trend for others to follow.”
Brand statement
What really helps Powerlook stand out from its competition is its ability to sell decent quality products at affordable prices. This emerging Mumbai-based menswear brand is there with the goal of providing India with chic, budget-friendly but high-street fashionable clothes.
The brand truly stands out as a star when it comes to affordable fashion. It gives its fashion fans to refresh their personal style each season without breaking the bank. “The menswear industry is driven by companies that demand exorbitant prices from their clients”, says Raghav, who aims to upend this market by bridging this gap and enabling clients to build contemporary, well-fitted and distinctive costumes at off-the-rack prices. By cutting out the middlemen and working directly with the best fabric distributors, “We found we can pass along our savings to you at a lower price,” he adds.
Market positioning
In the Indian menswear sector, Powerlook has established a substantial presence today. Amar and Raghav share their experiences as to how taking the brand online played a big role in expanding their presence across the country. When the brand was busy scaling up with their offline presence, Amar says they would get a lot of queries on Instagram from customers hailing from other cities.
Targeting the age group of 18 to 24 wherein recently the brand has created a collection to target different categories and interest group of users. Ragav explains as he says, “Powerlook is an aspirational brand for our consumers, simply because it competes with the other market leaders like Zara and H&M in terms of style at lower prices and premium quality.”
“Last year, our turnover was Rs 22 crore and, despite the lockdown, our online sales also soared high as many of our store customers automatically started purchasing our designs online” says Raghav. Powerlook has built a sizable presence on Instagram, with about 366k followers. Raghav adds that building a presence on Instagram and Facebook and using Facebook ads and Google Adwords was responsible for bringing traffic to their website.
Products and trendometer
Powerlook key product categories include oversize t-shirt, shirt with back prints and bottom wear with carpenter style baggy pants, shorts, track pants, jeans and cargos, co-ords sets, jackets and accessories. The brand’s average selling price lies between Rs 500 to 650.
Fast fashion is just not limited and is changing as fast as women's fashion. Men are seeking new trends and they don't hesitate to wear new colours. Powerlook is an edgy brand that is always seeking to provide latest trends. They have recently launched some innovative trends like baggy jeans and carpenter style cargo pants. They have also introduced textured shirts with stripes and checks.
The brand is looking forward to expand its product offerings and launch shoes and perfume as supporting category.
Expansions
The brand is currently present in 5 exclusive brand outlets (EBO) and is planning to introduce its franchisee owned franchisee operated (FOFO) model in 2023 for its investors.
Apart from Powerlook’s own website, the products are also available on Myntra and the company is soon planning its entry with Aamazon and Flipkart.
Raghav Pawar, co-founder of Powerlook sums up by saying that they are single-mindedly focused on doubling their turnover. In FY 21-22 the brand achieved Rs 20 crore and has achieve Rs 42 crore for FY22-23. Also, focusing on geographical expansion and planning to enter into the franchise model for tier II and tier III cities. By next year, for FY 23-24 we expect to close anywhere between 65-70 crore and for FY 25-26 we will be able to reach 120-140 crore.
Today, the fashion industry has changed in a big way over the past few years where social media, influencers have changed the game. Powerlook is moving rapidly with its brand building exercise and is open to collaborate with key fashion influencers to make a strong statement, ‘We are here to make a difference.’