Embark on a captivating journey through the realms of fashion as we unveil the tales of the next generation in fashion retail. This special series delves into the scions of iconic fashion houses, exploring their transition into the limelight and the weight of their inherited legacies.
From the roots of celebrated labels to the strategic innovations that set them apart, we scrutinize the financial narratives, marketing choreography, technological advancements, and sustainable endeavors that define the modus operandi of these modern-day fashion empires. Let’s unravel the stories, strategies, and successes of fashion’s next generation.
This week, IMAGES Business of Fashion delves into the extraordinary life and achievements of Sara Sethia, Director, suCCess Menswear.
Brand Overview
suCCess, established in 1996 by Rajnish Sethia in Kolkata, has evolved over 27 years, transitioning from a specialized trouser manufacturer to a comprehensive men’s wardrobe brand. Today, suCCess stands as a hallmark for men’s fashion, offering a diverse range including suits, blazers, shirts, trousers, denim, and accessories. The brand’s commitment to style, fabric quality, durability, and affordability resonates with individuals seeking a sophisticated wardrobe.
Generational Transition
The ongoing generational transition, led by the second generation, involves a gradual transfer of leadership with a focus on understanding family business dynamics. “The gradual transfer of leadership, laden with significant power and responsibility, awaits in the near future. Embracing this learning phase is crucial, as understanding the intricate dynamics of our family business demands time and expertise,” says Sara Sethia.
Technology plays a pivotal role in the brand’s evolution, with a notable emphasis on data analysis contributing to its strategic growth and adaptability.
Educational Background and Expertise
The next generation enriched the business with management and people skills, coupled with specialized education such as an MBA in fashion business. Their tech-savvy approach fostered innovation, contributing to the brand’s success.
Financial Performance
“Navigating the intricacies of a family business in India requires time, particularly in comprehending the nuances of financial management and decision-making. This phase is more about learning than overcoming challenges, as the transition is marked by acceptance and an ongoing process of understanding the unique dynamics that govern the business’s fiscal aspects,” says Sara.
Strategies for Success
Innovative approaches include integrating systems across operational domains, streamlining processes, optimizing efficiency, and fostering strategic growth. “As we embrace these innovations, we pave the way for sustained success and adaptability in an evolving landscape,” Sara adds.
Marketing and Branding
The brand strategically directs efforts towards robust digital marketing, establishing a strong online presence and maximizing visibility through dynamic channels.
Technological Implementation
The brand utilizes Ginesys for all operations, production, and sales, with a live tracking mechanism on Google enhancing current systems.
Expansion Plans
The brand envisions strategic geographical expansion, exclusive outlets in prime locations, and partnerships to serve PAN India. Core product offerings include formal, partywear, ethnic wear, and plans to introduce casual wear, diversifying the product range.
Financial Metrics and Store Presence
With 25 exclusive stores in East India, the brand plans gradual additions with a strategic approach to locations and personnel. “Every day is a learning curve in this industry and especially working so closely with my father who brings in so much knowledge and experience to the table,” says Sara.
E-Commerce and Omnichannel Strategies
Venturing into e-commerce involves concentrating on online expansion, establishing a website, and participating on select e-commerce platforms, aligning with the brand’s commitment to digital endeavors.
Advice for Family Fashion Businesses in Transition
Navigating a generational transition involves respecting past efforts, fostering continuity, respecting everyone within the organization, and finding a balance between tradition and innovation for sustained success. Confidence and knowledge should drive strategic expansions, ensuring a harmonious blend of tradition and innovation in an ever-evolving industry.
