Launched in 1999, Inc.5 represents 25 years of experience in manufacturing designer footwear. This combined experience, knowledge in shoemaking, and focus on high quality and design represents Inc.5’s mantra of sexy, smart and sophisticated styling for feet.
Brand Overview
Inc.5 was founded by Amin Virji in 1999 to fill the gap in the 16 to 35-year-old segment by catering designer trendy footwear. The brand started with a humble store of 100 sq ft at Heera Panna shopping center in Mumbai. Now with a presence in independent stores and in-shops in major department stores, Inc.5 has carved a niche for itself as a brand that designs form, function, fashion and fantasy, in every pair of shoes. Each pair of shoes produced by Inc.5 displays elegance, superior quality, design and excellent workmanship. Millions of satisfied customers trust the brand that offers classic styling with contemporary twists, that keep them on the top of men’s and women’s ‘must-have’ lists.
Market Presence
Inc.5 started its journey through a humble 100 sq ft store trying to create a niche for itself. Since then, the brand has flourished organically and is today known as a brand driven by the mission to provide fashionable yet comfortable styles. They now have a pan India presence with over 80 stand-alone stores and 250 points of sales through large departmental stores including Shoppers Stop and Lifestyle. The brand has also witnessed growth in its digital presence over the last few years through its website as well as its presence in marketplaces like Myntra, Nykaa Fashions, AJIO, etc.
Product Offerings
Inc.5 offers a diverse range of footwear spanning various categories, from comfort to occasion wear, loungewear and formal wear. With an extensive selection of styles, the brand covers the entire spectrum, offering anywhere between 500 to 600 product variations in-store. The brand ensures that every customer finds the perfect pair of shoes to suit their taste and occasion. Their wedding season collection under the ethnic range stands out in the wide array of categories they offer. The brand has also recently added an athleisure collection to their range which is perfect for casual wearing.
Private labels account for 70% of Inc.5’s business. Their men’s footwear is sold under the ATESBER and PRIVO brands. While primarily a footwear brand for men and women, they have also recently added handbags to their portfolio.
Product Development
Inc.5’s design development process involves blending international trends with Indian market preferences, adapting global styles to suit Indian sensibilities, and integrating new materials and innovations in hardware each season. This approach ensures that the designs align with global influences while meeting the unique needs of Indian customers. Footwear production is a complex process that prioritizes the use of quality materials and high production standards at each stage, ensuring exceptionally high-quality final products. A significant emphasis has been placed on enhancing the comfort of shoe insoles. By using innovative materials and making substantial changes to the footbeds, Inc.5’s goal is to provide customers with an incredibly soft and luxurious feel when they wear the shoes.
Brand Strategies
While Inc.5’s primary focus remains on offline stores, the brand also maintains a decent online presence through its website as well as marketplaces including Myntra and AJIO. The brand has adopted a multi-pronged approach to build a seamless omnichannel strategy:
- Ship from Store: Inc.5 leverages its network of physical stores as fulfillment centers for online orders. This enables them to fulfill orders faster and more efficiently, leveraging inventory from multiple locations to ensure timely delivery to customers.
- Exchange in Store: The brand allows its customers to exchange products in-store and choose products to their liking in exchange.
- Integrated Inventory Management: They have implemented a robust inventory management system that syncs inventory levels across all channels in real time. This allows customers to view accurate product availability online and in-store, reducing instances of stockouts and improving customer satisfaction.
- Unified Brand Experience: Inc.5 ensures that its brand identity, messaging, and product offerings are consistent across all channels. Whether a customer interacts with them online or visit one of their physical stores, they will experience the same brand image and quality standards.
Marketing Strategies
Inc.5 leverages e-commerce and digital platforms to enhance the customer shopping experience through:
- User-friendly websites
- Rich product information
- Personalization
- Omni-channel integration
- Customer reviews and ratings
- Secure payment options
- Post-purchase engagement
On the other hand, the brand also focuses on other areas of marketing to position itself as a leader in the footwear industry and drive sustainable growth. Inc.5’s marketing strategy comprises of:
- Digital Marketing
- Social media presence
- Influencer partnerships
- Content marketing
- Events and sponsorships
- Customer loyalty programs
- Public relations
- Collaborations
Expansion Plans
Inc.5’s expansion strategy involves identifying high-potential locations in small cities and establishing new retail outlets in those areas. The brand aims to create immersive and engaging shopping experiences in its stores, tailored to the preferences and needs of local consumers. By expanding their offline presence, they can build stronger relationships with customers, increase brand visibility, and drive sales in these emerging markets.
Inventory Building: To fulfill the demand in these new markets, Inc.5 is actively building its inventory to ensure adequate stock availability across all its stores. They are forecasting demand based on market trends, consumer preferences, and historical sales data, and optimizing their inventory levels accordingly.
Data-Driven Decision Making: Inc.5 leverages data analytics and consumer insights to understand shifting preferences and behaviors. By analyzing customer feedback, purchase patterns, and market trends, they can make informed decisions about product development, marketing strategies, and expansion plans.
The brand plans to expand its presence in tier II and III cities. “These cities often have untapped market potential and less competition compared to major urban centers, making them attractive targets for expansion. Economic growth in tier II and beyond cities has led to rising disposable incomes making residents more aspirational and fashion-conscious. There is a growing demand for stylish and high-quality footwear products.” says Amin Virji. Inc.5 is also exploring opportunities for international expansion with its D2C website, particularly in markets including Southeast Asia and the Middle East.
Financial Growth
Inc.5 boasts an annual turnover of Rs 200 crore and expects to reach 500 crore in the next 3-5 years as the branded footwear industry flourishes in India.
The Future
Inc.5 started its business with a retail format including shop-in-shops and the company still operates all its stores and does not operate the franchise model. The brand continues to expand its retail footprint with a plan to open over 17 stores in FY25, taking the overall store count to over 95 across India.
The brand has also started exploring the opportunity to interact with customers through digital channels like D2C and Marketplace and has witnessed growth through these channels.
