Provogue’s revamped avatar grabs eyeballs

Apparel retail chain Provogue’s latest print ad truly conveys

the changed strategy it has adopted recently. The tag line reads, “You’ve changed. We’ve changed”. The change is evident through use of models and not Bollywood stars to promote its new collection, and changing look and feel of its stores by changing the colour from ‘white and red’ to a more contemporary black. It is also launching new consumer products and fabrics to attract customers.

The 12-year-old retail chain has gone through some tough times in the past few years. In the early 2000s, it became famous with its ‘polynosic’ fabric (a soft fabric). After that, while it concentrated on heritage stores, many of its peers marched ahead with a bouquet of brands and product innovations. Industry analysts say the company failed to cash in on its early advantage due to faster growth amid competitors.

And though the sales of Provogue at Rs 788 crores in 2012, have been growing at 16.55 percent compounded annual rate of growth in the last five years, profits have grown at a mere 0.76 percent in the same period due to a sharp fall in 2009 and 2010. Hence, the revamp exercise. Out of 130 stores Provogue has, 25 stores have already been revamped, another 25 are in the process of being revamped. This process will be completed in the next six months. The company also wants to add another 300 stores via franchisee route in the next five years.