Step into the world of fashion resurgence with Subrata Siddhanta, the dynamic CEO of Apparel and Retail at Reid & Taylor, spearheading the brand's remarkable comeback in the Indian market. In an exclusive interview with Gurbir Singh Gulati, Editor-in-Chief of infashionbusiness.com, Siddhanta unveils the captivating narrative behind reviving this historic Scottish men's fashion brand. From unraveling the brand's illustrious legacy dating back to 1830 to navigating the complexities of modern consumer preferences, this conversation promises to unveil the strategic vision, innovative endeavors, and bold aspirations propelling Reid & Taylor's revival journey. Join us as we delve into the fascinating tale of reinvention, resilience, and the relentless pursuit of sartorial excellence.

Historical Perspective and Brand Revival:

Can you provide some insight into Reid & Taylor's historical journey and its recent revival?

Reid & Taylor, established in 1830, holds a distinguished position in the world of worsted suiting textiles . Its journey into India began in 1998, primarily with production of finest quality worsted suiting fabric in it’s Mysore plant, making it one of the most sought-after brands in the country for worsted suiting. However, post 2015, the brand faced internal challenges and eventually went into bankruptcy. Fortunately, the Finquest Group acquired it from the NCLT, reigniting its journey in 2020.

Consumer Insights and Brand Strategy:

How did you approach understanding consumer preferences and shaping the brand's strategy?

Reid & Taylor believes in looking beyond competition and focusing on understanding customers' wardrobes. Through extensive consumer studies, the brand discovered that 40% of its consumers prefer daywear and playwear, while the rest opt for festive and occasion wear. Recognizing the importance of premiumness beyond just price perception, Reid & Taylor tailored its products to offer exclusivity, fitment, and sustainable fabric choices.

Product Portfolio & Expansion

Could you elaborate on Reid & Taylor's product range and retail expansion plans?

Reid & Taylor's product portfolio spans Mens shirts, polos, suits, trousers, chinos, and accessories. Moving forward, the brand plans to expand its offerings to include innerwear and women's wear.

Retail Mapping and Expansion

Could you elaborate on Reid & Taylor's retail expansion plans?

Certainly, Reid & Taylor has outlined an ambitious strategy for retail expansion, aiming to establish a strong presence across key regions of India. Here's a detailed overview of their plans:

Current Store Launches: Reid & Taylor has inaugurated its first store in Borivali, Mumbai, located at Shimpoli road. This marks the beginning of their retail journey in India.

Upcoming Store Launches in Mumbai: In the coming month, Reid & Taylor plans to launch eight more stores in Mumbai alone. These stores will be strategically located across various neighborhoods, including Kandivali, Thane, Ghatkopar, Khargar, Belapur, and Kurla.

Testing in Mumbai: The brand is strategically testing different areas of Mumbai, covering the western, harbour, and central lines simultaneously. This allows them to gauge consumer preferences and shopping behaviours across diverse demographics and localities.

Expansion Beyond Mumbai: Following their successful establishment in Mumbai, Reid & Taylor aims to expand its retail footprint to rest of Maharashtra & Gujarat, focusing on key cities and urban centres within the state.

Regional Focus: Reid & Taylor's expansion strategy prioritizes regions in the western and southern parts of India initially. This includes states like Maharashtra, Gujarat, Karnataka, Tamil Nadu, Kerala, and others.

Total Store Target: By the end of the financial year, Reid & Taylor aims to have a total of 40 stores operational across India. This indicates a rapid expansion plan to capitalize on market opportunities and cater to growing consumer demand.

Franchise Model: While the initial stores are company-owned, Reid & Taylor is also exploring the franchise model for further expansion. Two franchise stores are already in progress in Surat, with a considerable number of franchise requests received, indicating strong interest from potential partners.

Profitability Focus: Despite the aggressive expansion, Reid & Taylor emphasizes maintaining profitability at the store level. The brand has a lean management approach and aims to achieve store profitability within the first two months of operation for each store.

In summary, Reid & Taylor's retail expansion plan demonstrates a strategic approach to penetrate key markets, establish a strong presence, and cater to the diverse needs of Indian consumers. Through a combination of company-owned stores and franchise partnerships, the brand aims to achieve widespread visibility and accessibility across the country.

Online Retail

How does Reid & Taylor plan to navigate online retail?

Reid & Taylor understands the significance of an effective online retail strategy in today's market landscape. Here's a detailed insight into their approach:

Value of Online Presence: Reid & Taylor acknowledges the importance of establishing a robust online presence to reach a wider audience and cater to the evolving shopping preferences of consumers.

Minimizing Returns: Recognizing the challenges associated with online retail, particularly regarding returns, Reid & Taylor is focused on minimizing return rates. They understand that reducing returns is essential for maintaining profitability and enhancing customer satisfaction.

Insights from Physical Stores: Before launching its online store, Reid & Taylor plans to leverage insights gained from operating physical stores. By studying customer behavior, preferences, and purchasing patterns in brick-and-mortar outlets, the brand aims to customize its online offerings to better align with consumer preferences and requirements.

Data-driven Approach: The brand intends to adopt a data-driven approach to online retail, leveraging insights gathered from physical store operations to inform its digital strategy. By analyzing customer data and feedback, Reid & Taylor aims to optimize its online store for maximum effectiveness and customer satisfaction.

Gradual Rollout: Reid & Taylor plans to build its online presence gradually, ensuring that the infrastructure and systems are in place to support a seamless shopping experience. This approach allows the brand to fine-tune its online operations and address any potential challenges before scaling up.

Airport Retail Strategy:

How does Reid & Taylor plan to explore airport retail?

Reid & Taylor recognizes the potential of airport retail as a strategic avenue to reach travellers and capitalize on their unique needs. Here's a detailed overview of their airport retail strategy:

Focus on Travellers: Airport retail provides an opportunity to target a specific audience of travellers who are often in need of convenient shopping options. Reid & Taylor aims to tailor its offerings to meet the requirements of this demographic.

Product Selection: The brand plans to focus on offering top wear and accessories specifically designed for travellers on the move. This includes items such as shirts, polo shirts, ties, cufflinks, and other accessories that complement the travel experience.

Convenience and Accessibility: By setting up retail outlets in airports, Reid & Taylor aims to provide travellers with convenient access to high-quality clothing and accessories. The brand understands the importance of offering a seamless shopping experience for busy travellers.

Strategic Placement: Reid & Taylor will strategically position its airport retail outlets within high-traffic areas of airports, ensuring maximum visibility and footfall. This strategic placement aims to attract the attention of travellers and encourage them to explore the brand's offerings.

Adaptation to Travel Needs: Recognizing the unique requirements of travellers, Reid & Taylor will tailor its product selection and services to meet the needs of this demographic. This may include offering travel-friendly clothing options, efficient checkout processes, and personalized customer assistance.

Sustainability quotient

Can you elaborate on Reid & Taylor's approach to sustainability in its fabric production?

Absolutely, sustainability is a core focus for Reid & Taylor. We are committed to using mostly sustainable fibers in our fabrics, ensuring that our manufacturing processes have minimal environmental impact. We believe in responsible sourcing practices and eco-friendly production methods to reduce our carbon footprint and contribute positively to the environment.

Innovation and Marketing

How does Reid & Taylor differentiate itself in terms of innovation and technology in garment manufacturing?

Innovation is key to our brand ethos. We constantly strive to integrate the latest advancements in fabric technology and manufacturing processes into our products. Whether it's developing fabrics with superior performance attributes or implementing innovative design features, we aim to offer our customers garments that stand out in terms of comfort, durability, and style.

Could you share insights into Reid & Taylor's marketing and communication strategies?

Our marketing approach revolves around creating meaningful connections with our target audience. We are planning to leverage various channels, including advertising campaigns, social media engagement, and strategic brand partnerships, to reach and engage consumers effectively. We will step up our investment on media spending as we roll out more stores and formats. We focus on communicating the unique value proposition of Reid & Taylor, highlighting our heritage, quality, and commitment to customer satisfaction.

As the curtain rises on Reid & Taylor's remarkable resurgence, it illuminates a narrative of transformation, adaptability, and unyielding determination. Rising from the brink of adversity, the brand has undergone a remarkable evolution, guided by Subrata Siddhanta's visionary stewardship and a steadfast commitment to redefine men's fashion in India. With each store inauguration, each meticulously tailored garment, and each strategic move into online and airport retail, Reid & Taylor asserts its position as a challenger brand with a difference — one that defies the odds, shuns complacency, and champions innovation. The road ahead beckons with promise, ripe with opportunities to rewrite the rules, inspire confidence, and captivate a new generation of fashion aficionados. In this ever-evolving landscape, Reid & Taylor stands not just as a brand, but as a beacon of style, sophistication, and unwavering resilience, poised to leave an indelible mark on the tapestry of Indian fashion.