Embracing India Fashion Industry - MACYs.pptx

A research on India's fashion industry and introducing a new brand on the Macy product lines.

1. EMBRACING INDIA Strategies and business plan OKEEGBE ROTIMI December 2021 fits ®

2. Agenda Overview Executive Summary About India. Macy’s Market Size MacroEconomic Analysis Cultural Analysis of India The Competition. Competitive Analysis &Strategic Plan Leadership Style Strategic Plan Competitive Analysis within India Go to Market Target Market Analysis Go-to-Market Plan(GTM) Execution Plan Our Team – Leadership Style Product Budget. Legal Considerations Status Update Up Next

3. Executive Summary About India. Macy’s Market Size MacroEconomic Analysis Cultural Analysis of India Overview

4. Executive summary Macy’s, Inc. is one of the nation’s premier retailers, with fiscal 2018 sales of $24.971 billion. The company comprises three powerful retail brands, Macy’s, Bloomingdale’s and Bluemercury . Macy’s, Inc. is headquartered in New York, New York Largest US department Store company by retail sales 90,000 Employees across 732 stores Annual Revenue of $24.8 billion Products include apparel for men, women and children, as well as an assortment of housewares, home textiles & decor, cosmetics, hair & nail care, gifts, jewelry, shoes, designer handbags, accessories, and activewear. Mission Statement “ To be a retailer with the ability to see opportunity on the horizon and have a clear path for capitalizing on it .” Positioning Strategy S trengthening customer relationships, E xpanding assortments, Accelerate digital growth, Optimizing store portfolio Reducing costs. S trengthening customer relationships Accelerate digital growth Optimizing store portfolio E xpanding assortments Positioning Strategy

5. Market size Value of the domestic apparel market in India from financial year 2010 to 2018 With India’s fashion retail segment at about € 52 billion in 2017, and poised to cross €85 billion by end of 2022, India offers great opportunities for European and other international brands. The men’s share of the fashion market is substantially higher than that of women. Though the gap is reducing, and by 2022, both men’s and women’s share of the total fashion market is likely to be 39% each. Keeping in mind India’s demographics wherein almost 28% of the population is below 15 years of age (325 – 350 million), it is no surprise that kids account for nearly 20% of the total fashion market in 2017 and their share will actually increase marginally to 22% by 2022.

6. Summary Consumer Spending in India increased to 19483.46 INR Billion in the third quarter of 2021 from 17836.11 INR Billion in the second quarter of 2021 Forecast Consumer Spending in India is expected to be 21798.00 INR Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the India Consumer Spending is projected to trend around 23324.00 INR Billion in 2022 and 24840.00 INR Billion in 2023, according to our econometric models. Macroeconomic analysis Key Regions to Focus on Mumbai- The City of Dreams Goa New Delhi, NCR Shillong , Meghalaya Kolkata, West Bengal Bangalore, Karnataka Hyderabad, Andhra Pradesh Mangalore, Karnataka Pune, Maharashtra Chennai, Tamil Nadu

7. Cultural analysis of india Cultural Attributes of the Indian Market

8. Leadership Style Strategic Plan Competitive Analysis within India The Competition. Competitive Analysis &Strategic Plan

9. Best suited Leadership style – Democratic Style of Leadership LEADERSHIP STYLE Communication Styles:

10. Customer Profile Value Proposition Product Roadmap Strategic Features Product Overview Government Policy Tax Policy Direct Taxes FDI Policy VAT * Liberalizing procedures for industrial licensing &investment * Reduced role of public sector * Lowering of import duties * Easing import licensing * Relaxing controls on FDI &portfolio investment * Improving operations of capital markets Increased chasm between the caste system More Exposure and Awareness Increase in High Net Worth Individuals Online Shopping Increased number of Technological Startups Internet infrastructure Technology incentives - Climate Change - Carbon Footprint - Availability &Scarcity of Raw Material - CSR &Sustainability Company Registration Labour Laws Workers’ Rights Tax Restrictions Data Protection Laws STRATEGIC PLAN

11. High Local responsiveness and High Global Integration Product Overview International Business Strategy

12. Competitive Analysis Existing Key Local Competitors Shoppers Stop The most visited department store in India, having brands of clothing, fragrances, cosmetics, beauty products and accessories, owned by the K Raheja Corp Group. There are 86 stores across 40 cities in India, with clothing, accessories, handbags, shoes, jewellery , fragrances, cosmetics, health and beauty products, home furnishing, and decor products. Pantaloons It is present across 31,000 multi-brand outlets and 6,800+ point of sales in department stores across India. It has a repertoire of leading brands such as Louis Philippe, Van Heusen, Allen Solly and Peter England established for over 25 years. Pantaloons is one of India's largest fast fashion store brand. Reliance Trends   Trends is India’s largest fashion retail chain across India. Trends offers stylish, high-quality products across Womenswear, Menswear, Kidswear and fashion accessories through a diversified portfolio of own brands, national and international brands. had the highest number of stores across India in the fiscal year of 2017, accounting for 330 Brand Differentiation We will combine the human touch in our physical stores with cutting-edge technology Focus more on Online Sales using Multiple Channels coupled with efficient customer service Local Brands, Locally sourced Raw Materials and Labour Cultural Responsiveness and CSR fits ® fits ®

13. Target Market Analysis Go-to-Market Plan(GTM) Go to Market

14. TARGET MARKET ANALYSIS DEMOGRAPHIC CHARACTERISTICS MOTIVATIONS fits ®

15. GO-TO Market Plan fits ®

16. Legal Considerations Action Plan Execution Plan

17. LEGAL CONSIDERATIONS Options as below “The limited liability company is the preferred form in India, whereby the personal liability is limited to the amount unpaid on their shares, or by a predetermined amount.” Relevant Trade Policies: Foreign Direct Investment (FDI) Remission of Duties and Taxes on Exportable Products ( RoDTEP ) Goods and Service Taxes (GST) Tax Policies

18. ACTION PLAN fits ®

19. References Macy Inc. Announces Three-Year Polaris Strategy to Stabilize Profitability and Position the Company for Growth https://www.businesswire.com/news/home/20200204006014/en/Macy%E2%80%99s-Inc.-Announces-Three-Year-Polaris-Strategy-to-Stabilize-Profitability-and-Position-the-Company-for-Growth How India’s ascent could change the fashion industry https://www.mckinsey.com/industries/retail/our-insights/how-indias-ascent-could-change-the-fashion-industry https://www.brand-experts.com/brand-expansion/india-fashion-retail/ https://economictimes.indiatimes.com/news/economy/indicators/indian-economy-to-grow-at-9-5-in-2021-8-5-in-2022-imf/videoshow/86968477.cms https://incredible-india-cayla.weebly.com/hofstedes-cultural-dimensions.html https://www.artofmarketing.org/rural-marketing-2/india/hofstedes-cultural-dimensions-its-marketing-applications-india/13453 https://commerce.gov.in/international-trade/trade-promotion-programmes-and-schemes/

20. Thank you OKEEGBE ROTIMI [phone] [email protected] Nexford university