Alvaro looks beyond accessories, to grow at 20 per cent this year

Alvaro, a homegrown accessories only brand, has grown by four-five per cent in the last year but has now pinned its hope to 20 per cent this year. The same is expected next year. After all the market for accessories is every growing. Recently, they launched women’s purses and handbags priced between Rs 700-Rs 3,000 and will soon have jewellery and footwear for women.

Alvaro has been doing men’s accessories till now and the variety included belts, wallets, caps, hats, pocket squares, cufflinks, neckties and scarves. The cufflinks are priced as per quality. At the lower end, there is imitation rhodium, which comes with a two year guarantee, and rhodium polishing, which comes with a five year guarantee against blackening. At the top end are silver cufflinks. The brand’s biggest selling item is a combo pack which has ties, cufflinks and matching pocket square. It comes in a wooden box and makes for an ideal gift.

Alvaro’s products sells most during the wedding season. In fact, most of them are season-based. Also, fabrics like micro fibre and woven silk for ties are used. For scarves silk and wool are used.

Innovation keeps the brand young

Alvaro believes in innovating round the year. Every year there are new patterns and colours. Fabrics also change. Presently, knitted fabrics are in fashion and these are used in neckties, scarves and bow ties. Ties have solid patterns, stripers, jacquards, dobbies, floral prints and paisley prints. Digital prints are also in fashion.

Competition is nothing to worry about

Indeed, its facing competition from leading brands but Alvaro is not worried because their main focus is on accessories. For other brand’s, accessories contribute only five per cent to their revenues and form just a small part of their large business. As a result, their accessories collection is limited unlike Alvaro’s which has a huge range of products. Even its prices are way below the brands.

Tushar Agarwal, Director, Alvaro reasons, “We have a price advantage over other brands because accessories don’t have a touch and feel factor. For touch and feel, like apparel, you need premium fabrics. But when you wear a tie, you don’t worry about touch and feel since there is no skin contact.”

For a company which was launched in 2000, today it has presence in Delhi, Punjab, UP, Haryana, Gujarat and Mumbai. It has a network of 500 MBOs and also present at Shoppers Stop and Lifestyle. There are now plans to open at the Central Mall in Delhi. Also, it may open EBOs at domestic airports. Apart from this, the brand is available on eight portals.