BESA PROJECT REPORT

AMITY BUSINESS SCHOOL,NOIDA

Strategy Analysis of Hi-Design Leather

Products

SUBMITTED TO
SUBMITTED BY
Dr. Himani Sharma Abhishek
Thaor (B 29)
Faculty, ABS Anil Yadav
(B 42)
Manoj Dasgupta (B
45)
Nilava Das
(B 46)
 Tarun Patra
(B 58)

ACKNOWLEDGEMENT

We would like to take this opportunity to thank a lot of

eminent personalities, without whose constant
encouragement, this endeavor would not have become a
reality.

Firstly, We would like to thank our prestigious institute

the AMITY UNIVERSITY, NOIDA, for including the
Project as part of its curriculum, which provided us with a
wonderful opportunity to nurture & improve upon our
research and presentation capabilities and AMITY
BUSINESS SCHOOL for providing us with such excellent
facilities, without which, this project could not have
acquired the shape it has now done.

We would like to thank Dr Himani Sharma for her

continuous support, timely advice and guidance.
Last but not the least , we express our sincere gratitude
to Dr. Sanjay Srivastava, Head, ABS, NOIDA for
providing us with the required facilities.

We are also grateful to our parents and all our friends

who helped us directly or indirectly with their valuable
suggestions for the completion of this project.

Brief Contents

1. Leather Industry

a. An overview & prospects

b. Major production center in India

c. Expected production capacity

d. Leather statics

e. SWOT analysis of Leather Industry

2. Hi-Design Leather Product Sector

a. History

b. Company’s Vision

c. Core Values

d. Target Segment

e. Building The Brand

 f. Brand Report Card

g. Brand Positioning

h. Brand Communication

i. Distribution Network

j. New Products

3. Strategies

a. Business Level Strategies

i. Differentiation

ii. Focus

b. Corporate level strategies

i. Horizontal Integration

ii. Vertical Integration

iii. Diversification

4. Business Models

a. ETOP

b. Porter’s Five Forces Model

c. BCG matrix

d. SWOT analysis

5. Recommendations

a. Brand Extension

b. New Product Line & Target Segment

c. Alternatives to vertical integration

6. Conclusion
7. Bibliography

Leather Industry
In
India
 LEATHER AND ALLIED INDUSTRIES – AN
OVERVIEW AND
PROSPECTS

Leather Industry in India, occupies a place of prominence in the

Indian economy, in view of its massive potential for employment,
growth and exports.
There has been increasing emphasis on its planned development,
aimed at optimum utilization of available raw materials for
maximizing the returns, particularly from exports.
About 46 per cent of the production in the sector is exported and
it ranks eighth in the list of India’s top export earning industries
and contributes roughly Rs. 10,000 crores per annum, i.e., about
4 per cent to export earnings. The sector accounts for 2.5 per
cent of the global leather-related trade of Rs. 387,200 crores.

Overview of the Leather Industry in India

Products Exported

 Leather Footwear
 Footwear Components (Shoe Uppers, Soles etc.)
 Leather Garments
 Leather Goods (Including Harness & Saddlery, Leather
Gloves etc.)

Major Production Centers Of Leather And Leather Products

 Southern Region

Tamil Nadu Chennai, Ambur, Ranipet, Vaniyambadi, Trichy, Dindigul

Andhra Pradesh Hyderabad

Karnataka Bangalore
Northern Region
Punjab Jalandhar
Delhi Delhi
Eastern Region

West Bengal Calcutta

Central Region

Uttar Pradesh Kanpur, Agra

Western Region

Maharashtra Mumbai (Bombay)

Estimated Production Capacities

 Product Capacity

Leather
Hides 65 million pieces
Skins 170 million pieces

Leather Products

Leather 776 million pairs

Footwear

Leather Shoe 112 million pairs

uppers

Non-leather 960 million pairs

Footwear

Leather 18 million pieces

Garments

Leather Goods 60 million pieces

Industrial 52 million pairs

Gloves

Saddlery 0.10 million pieces

Leather Statistics
 Country-Wise India's Export of Leather and Leather
Products
Value in thousand US$)
COUNTRY 1995-96 1996-97 1997-98 1998-99 1999-2000 2000-01
U.S.A. 295.62 298.75 251.40 252.71 258.24 343.21
Germany 400.38 362.88 363.41 364.19 293.59 308.13
U.K. 200.93 204.92 219.26 235.79 266.29 271.35
Italy 221.26 182.99 221.53 197.16 165.47 241.06
Spain 50.75 46.97 54.96 69.23 66.72 100.88
Hong Kong 59.46 59.07 53.93 53.26 55.22 98.42
France 88.73 72.34 79.01 79.77 84.36 90.84
Netherlands 38.65 38.48 43.83 49.78 44.17 55.82
Portugal 23.70 20.21 31.91 29.39 24.41 37.44
Russia 47.58 30.22 50.99 25.19 27.97 31.49
Denmark 27.81 23.34 21.73 18.82 28.30 28.77
Australia 40.74 36.91 36.83 35.39 31.84 28.44
Canada 22.84 19.63 21.69 18.77 21.42 26.71
Sweden 12.70 11.20 12.76 15.40 19.79 25.47
S. Africa 31.06 25.70 25.10 26.29 24.28 23.46
Switzerland 20.25 21.14 22.78 21.49 16.13 18.61
Austria 18.37 18.18 20.16 17.22 14.65 15.04
Japan 21.52 13.36 14.31 7.30 8.36 13.32
Greece 5.27 6.33 6.92 5.75 4.50 5.95
New Zealand 4.95 4.59 4.17 4.79 5.28 3.81
Others 130.41 121.07 115.23 127.20 143.45 202.76
TOTAL 1762.97 1618.27 1671.90 1654.89 1604.35 1970.98

Key Characteristics

• The average revenue growth of the leather

companies in the last two years was around 20%.
• The companies operated at an average capacity
utilization of 83%.
• 17% of the companies operated with two or more
manufacturing facilities.
• 92% of the companies are involved in exports.
• Europe is the most preferred destination for export of leather
goods, followed by Asia (excluding Middle East).
• Around 76% of the companies generated more than 50% of
their revenue from exports.
• Around 20% of the companies manufacture and market
branded products.
• Around 52% of the companies were relatively older and
started operations prior to 1990s while 38% of the
companies were established between 1990s and 2000.
Around 12% were newly commenced operations post- 2000.

Leather Export Statistics

Product Leather Accessories
Product Range Wallets, Purses, Handbags, Belts, Key Chains, Passport
Folders, Spectacle Cases and Hand Gloves, Travelware,
Portfolios, Suitcases, Harness and Saddlery Goods
Important Calcutta, Chennai, Delhi, Jallandhar, Kanpur and Mumbai
Production Centres
in India
Top 10 Importing U.S.A., Germany, U K., Italy, Netherlands, France, Spain,
Countries Russia, Canada and Sweden.
India's Total Export 443.83 US$ Million
Value
[April 2000 - March
2001 ]
SWOT Analysis of the Indian leather
industry
Opportunities
• Rising potential in the domestic market
• Growing fashion consciousness globally
• Use of information technology and decision support software
to help eliminate the length of the production cycle for
different products
• Use of e-commerce in direct marketing

Strengths
• High Growth
• Ready availability of highly skilled and cheap manpower
• Large raw material base
• Policy initiatives taken by the Government
• Capability to assimilate new technologies and handle large
projects
• Continuous emphasis on product development and design up
gradation

Weaknesses
• Lack of warehousing support from the government
• International price fluctuation
• Huge labor force resulting in high labor charges
• Lack of strong presence in the global fashion market
• Unawareness of international standards by many players

Threats
• Major part of the industry is unorganized
 • Limited scope for mobilizing funds through private
placements and public issues (many businesses are family-
owned)
• Difficulty in obtaining bank loans resulting in high cost of
private borrowing
• Stricter international standards
• High competition from East European countries and other
Asian countries
• Lack of communication facilities and skills

Various Sectors of Indian Leather

Industry
 Tanning & Finishing

 Footwear & Footwear Components

 Leather Garments

 Leather Goods including Saddlery & Harness

Indian Leather Goods Industry

Items produced by this sector include, in addition to bags,
handbags, hand gloves and industrial gloves, wallets, ruck sacks,
folios, brief cases, travelware, belts, sports goods & upholstery.

A surfeit of modern units in Chennai, Kanpur and Calcutta

employing skilled human resources and equipped with modern
and sophisticated machinery account for a diversified range of
superlative small leather goods including bags, purses, wallets,
industrial gloves etc. made of quality leathers of cows, sheep,
goats and buffaloes. The products meet the requirement of bulk
buyers and consumers in Europe, USA and Australia.
The major market for Indian leather goods is Germany, with an off
take of about 25 per cent of the leather goods produced in India
followed by USA, UK, France and Italy. With products ranging from
designer collections to personal leather accessories, this sector
has a share of 20.53 per cent in the leather industry, while
maintaining an average growth rate of 11 per cent recorded in
the last five years

Leather products sector

Hi- Design - A Major

Player
 Hi Design A Major Player In
Leather Products Sector
From its artisan roots of a two man workshop to a company of
3000 spread all over the world, Hidesign has stayed focus on
innovation based on the strong base of heritage of craftsmanship.
Hidesign stands out for the sensuous naturalness of its high
quality leathers and the smooth soft glow of its solid brass
fittings.

"We have stopped thinking of ourselves as manufacturers; instead, we are

looking at ourselves as designers."

Dilip Kapur, President, Hidesign, in November, 2005.

Hidesign is a recognized leader in the research of the ecological

use of vegetable tanned leathers for its leather goods. Learning
from the centuries old skills of tanning with natural seeds and
barks, Hidesign has created fashionable leathers that age
exceptionally well. The heritage of fine hand craftsmanship is
visible in the details that make Hidesign products stand out and
exclusive.

The History – From Scrap To The Present

Heights

Hi design was set up by Dilip Kapur in 1978 as a ‘one-man

artisian workshop’ at Auroville, Pondicherry which he operated
from his house. Initially, the venture was just an extension of a
special interest in leather craft that Kapur had developed while he
was studying in the U.S.

The name Hidesign was formed by merging the words "hide" and
"design" . And true to its name, Hidesign went on to become a
premier design house for leather goods, gaining acceptance
even in the highly competitive western markets.

Most of Hidesign’s initial customers were

foreigners who spotted the bags while traveling in
India. The Company received its first order from
a German organization in India that had a
catalog.
Gradually the business expanded with the company winning a
number of export contracts. Although initially, the firm
experienced hiccups in developed markets like the UK and the
US, its good quality, distinctive designs, and aggressive
marketing strategy helped it succeed in carving out a niche for
itself.

The Company’s Vision

All Hidesign product lines reflect the Hidesign concept

and create a harmonious image that reflects the
sophisticated lifestyles of our customers.

Our core classic range of briefcases, handbags and

wallets are always contemporary, sophisticated and ideal
for the successful executive lifestyle. Our wide range of
garments reflects a continuous adaptation to the latest
fashion tendencies. Our extensive range of small leather
goods and fashion accessories complement the
handbags, the effect is stylish and harmonious.

Kapur emphasizes on workmanship and design, making

beautiful, affordable bags. 70% of the manufacturing is
done by hand &craftsmen carry out labor-intensive steps
such as double-stitching of pressure points.

The Core Values of Hidesign

Hidesign brand values are always consistent & provide

Hidesign a unique identity & great customer loyalty.

 Natural
Hidesign sees great value in natural beauty. The soft,
sensuous leathers and smooth solid brass fittings speak of
the highest quality natural materials.

Hidesign does not cover its leathers with layers of pigments

and paint or emboss it with artificial patterns to hide defects
in low quality materials , nor does Hidesign use electroplated
steel or zinc fittings that do not age well.

 Ecological: Vegetable Tanning

 Hidesign believes in the highest ecological values.
Hidesign is a leader in research on using vegetable
extracts from seeds and barks for tanning to replace
heavily polluting chemicals.

 Craftsmanship
Every Hidesign product is uniquely handcrafted. There is no
mass manufacture at Hidesign, and the great
traditional skills of our craftsmen are encouraged to be
perfected over years.

 Innovation

Hidesign products are unique. The multicultural design team

has won several international awards for its excellence and
design leadership. True to its values, Hidesign constantly
innovates to stay in touch with the continuous fast moving
changes in the lifestyle of its customers.

Hide and Design- Market Segment Selected As The

Target Audience
Hidesign mainly targets the upwardly mobile educated
internationally minded executive. The brand is known for its
craftsmanship and the quality of its products.

The target market consisted of people aged between 20 and 50

years, belonging to high income households, who traveled
frequently, often internationally; and insisted on high quality
products.
A typical Hidesign retail customer was well-educated and typically
was a service industry executive. 53% were age 25-35, 30% 35-
45, and 10% over the age of 45. 54-55% of customers were
women, and handbags were the biggest-selling single item.

Hidesign : Truly International- Building the BRAND

Hidesign is India's premier leather goods company that makes
leather bags, briefcases and wallets. This 90 crore brand is the
Indian brand that features in the premium international stores
worldwide. The Indian leather market is expected to be around Rs
1000 crore and the branded market is around 120 crore.

Hidesign is a brand that was built overtime through careful brand

building . The brand which was launched as an export brand
came to India and surprised to find the reception it had, despite
astronomical prices. The brand came to India at the right time
when the Indian consumers are splurging on lifestyle products.

All these years this brand has never compromised on quality. The
main USP of this brand is its craftsmanship. The brand still uses
the traditional craftsmanship and 70% of the work is by hand. The
brand depends heavily on the craftsmanship. The core value of
the brand is its attitude, tradition and its commitment to
environment. Instead of using the much polluting dyes, the brand
uses vegetable dyes.

The brand is positioned along the core values and the

craftsmanship. The brand initially was projecting quality as its
major focal point , now the brand is on a campaign to connect to
the customer emotionally.

The Brand Report Card (Dr.Kevin Lane Keller)

for Hidesign
 Delivering On Customer's desire
The brand has been able to identify and satisfy the customer's
desires. The customers were in need of a brand that can offer
them quality and looks which was lacking in the unbranded
products.

 Relevance
The brand is relevant to customer because of the change in the
lifestyle of the upwardly mobile Indians.

 Value
Although the brand is priced astronomically , the target group is
finding value in this product. But with these prices the brand is
out of reach to most Indians.

 Positioning
 The brand rightfully identified its core value and the positioning is
in line with the strength of the brand . The choice of the media
and the copy of the campaign also reflects the positioning.

 Portfolio

The brand has wide range of models and is seriously looking into
expanding to different segments with in the category. The
company is planning to introduce bags for the college going
under a separate brand name.

 Integrated Marketing Activities

The brand has been using its stores and all the marketing mixes
carefully in promoting the brand.

 Management
The brand has been built over time and the management has
been careful in building the core values of the brand.

 Support
There has been lot of support for the brand building efforts . The
company has been spending the money wisely and carefully.

 Marketing
The overall marketing activities has been perfect and has helped
the company to create a world class brand.
Hidesign is an internationally successful brand in the
“affordable luxury” category. It’s a brand that is born out
of passion, sets its first foot internationally and then
comes to Indian market almost two decades of marketing
its presence in various parts of the globe.

The feeling of luxury comes from providing an exclusive

product and service through the exclusive ambiance of
our stores that is custom made and shows the luxury of
the product.
BRAND Positioning- Stage where people recognize
it for what it is
Hidesign has been an international company, distributing under
its own brand name across the world. Today , Hidesign has its
own manufacturing units, company tannery and buckle factory.
Hidesign sells leather bags and garments under its own name in
Australia, Greece, South Africa, United Kingdom and the United
States.

When Hidesign started off in India, way back in 1996, the whole
process was to establish brand salience. The initial focus was to
set up stores at the tourist places primarily to see how the Indian
audience take to the brand. It was good to see that the Indian
audience did find an affinity to the brand and many of them
became hard core Hidesign loyalist. Hidesign community grew
primarily through word of mouth and the company encouraged
this as a feeling of belonging, of being a Hidesign customer.

Brand Communication
Hidesign focuses on fashion and lifestyle media for their
communication in India. One could find Hidesign in Femina,
Jetwings, l’officiel, Marie Claire, Brunch and some newspaper
supplements like Mumbai Mirror, Delhi Times etc. Hidesign
launches its new collections through fashion shows, once a year.
Senior media personnel are invited to attend the show, at
Pondicherry, coupled with visit to the factory. Local fashion shows
are also organized at cities like Cochin, Hyderabad and Calcutta.
Designs
Hidesign has three design set ups. UK, India and Italy.

Worth Global Network Sourcing (WGNS) is a source of inputs on

styles and designs. This provides information on new motifs,
animal prints etc. The designers also do a study of the existing
markets, what the big brands are doing, what are the current
trends and what should be the trends for the next season. New
shapes are only 10% of total collection. There are some classic
designs that are globally favorite and they continue season after
season.

Alberto Ciaschini, who earlier worked with Armani, is a designer

working for Hidesign, based in Milan and keeps the other
designers updated on designs, styles, concepts, finishes, fittings,
leather, texture, feel etc.

Collections
Hidesign has two seasonal collections: Spring - Summer and
Autumn – Winter.
The products are classified in two types. Core and Collection.
Core is the classical range which consists of the ‘most sold’ types
that are available through the year. Collections are seasonal and
time bound. If a collection becomes successful, it goes to the
core. New designs keep coming in and old ones are replaced. The
feedback on design changes is gathered from customers when
they purchase from the retail outlets. It is also derived from the
kind of bags sold at various stores and ‘the most sold and least
sold’ designs.

"The Hidesign brand has tremendous quality and price advantages

in Austria. In spite of the strong competition, Hidesign has created
a niche for itself."

A Hidesign distributor for Austria, in 2009.

Hidesign's Distribution Network- Reaching

The Target Segment
In its overseas markets, Hidesign graduated from a firm fulfilling
export contracts to selling through distributors and then through
high-fashion retail chains like Selfridges.

In later years, it even started wholly-owned concept stores. On

the other hand, in India, Hidesign started its distribution
operations by opening wholly-owned stores (in 2000).

It was followed by tie-ups with retail chains like Westside in 2003

and subsequently Shoppers' Stop, Landmark, etc. In late 2005, it
announced plans to open exclusive franchised outlets.

International Distribution
Initially, Hidesign was an exclusively export-oriented outfit,
fulfilling orders from European and American distributors. It
concentrated on taking small orders and fulfilling them to high
quality standards and delivering on time. This proved crucial in
building its reputation among high-end overseas customers and
in gaining their initial goodwill.

A Hidesign bag won the ‘Accessory of the Year” award from a

British magazine, which gained the firm much visibility, and
department stores began picking Hidesign as a supplier. Thus,
famous merchants as Selfridge’s, the House of Fraser, and John
Lewis started carrying a range of Hidesign bags, which
significantly increased the Indian manufacturer’s sales while
building much more awareness overseas of its style and quality.
During the 1990s, the product mix changed from 45% of sales
from branded goods to 95% of sales.

In the early 1980s, Hidesign entered the UK through local

distributors. However, initially, the leather and luggage shops in
the UK were not keen on stocking an Indian brand but as
Hidesign’s international expansion was picking up momentum, its
president and founder Kapur wondered how best to move forward
in building a truly scalable brand with global reach.
Domestic Distribution
Hidesign started its retail operations in India in 2000 when it
opened its first wholly-owned exclusive retail outlet in Bangalore.
The Indian market too proved receptive to the high quality
leather goods of Hidesign and the business boomed.

"Ever since we began retailing in India, we have registered a 60%

annual growth every year"

Dilip Kapur, President, Hidesign, in November, 2003.

Hidesign went in for a major expansion in India in 2002-2003. The

fact that the global market for luxury goods was facing a
slowdown while the Indian fashion market was buoyant and
that there were no major competitors in the same
category, prompted Hidesign to exploit the huge
opportunity.
"In India, we have two distinct advantages. One, our economy is still
growing at 6% and two, there is no competition in leather at the top
end of the market. So we are filling up a vacuum..."

Dilip Kapur, President, Hidesign

By 2006, the firm owned 35 stores in India and had announced

plans for 17 more . Diversifying into retail changed the nature of
the business, much as moving into foreign department stores
New Products: Sustaining Excitement
The success of a luxury product depends as much on its 'Coolness
Factor' as on an appropriate distribution network. Therefore,
Hidesign put in a lot of effort into creating new products and a
buzz around the brand.

Hidesign is an internationally successful brand in the “affordable

luxury” category. The feeling of luxury comes from providing
exclusive products and services.

Its classic range of briefcases, handbags and wallets are always

contemporary, sophisticated and ideal for the successful
executive lifestyle.
 Throughout its lifetime, the brand has never compromised on
quality. The main USP of this brand is its craftsmanship. The
brand still uses the traditional craftsmanship and 70% of the work
is by hand. The brand depends heavily on the craftsmanship. The
core value of the brand is its attitude, tradition and its
commitment to environment. Instead of using the much polluting
dyes, the brand uses vegetable dyes .

Hidesign is truly international brand. It is a showcase of Indian

marketing acumen and proves that Indians can make a world
class brand.
Strategies Adopted – For
achieving , what it has
How did Hidesign achieve the present
status ?
 Business Level Strategies:- The Success
Determinant

Differentiation Focus
Distribution
1. Differentiation
Hi design stresses on natural leather processing to show
authenticity & differentiation.

Leather Checking
Unlike most mass produced leather goods, Hidesign bags are
made using Full Grain Hide leather that needs no correction.
Hidesign has its own tannery to ensure that the best quality hides
are used. In stage 2, the leather is tanned by the time honoured
traditional method of vegetable tanning hides in extracts of bark
and seed (which represent the required tannic acid) collected
from renewable sources in the forests of Africa and India. Only
after these vegetable extracts have been fully absorbed oils &
waxes applied to make the hides supple. This method, though
more extensive and time consuming, is by far the most thorough
and environment friendly.
The leathers are checked to ensure that the Classic leather has
sufficient body for a briefcase to be firm, built is not too boardy.
Casual leather is checked for its softness, without looseness and
wrinkles. Keeping the tradition and environment in view, Hidesign
products are normally hand-dyed. This enhances the strength and
the beauty gained from the vegetable tanning process.

Cutting
Hidesign still insists on hand-cutting with knives, for with its tiny
sharp cutting point, it enables the skilled pattern cutter to make
clean cuts and go around corners exactly as per the pattern.
Hand-cutting allows the cutter to lay down the whole leather on
the table and place various patterns onto it to ensure correct
matching between adjoining pieces on the bag before actually
cutting. Inherited talents and long apprenticeships gives Hidesign
this unique strength to handle natural leathers that most
factories, dependant on machine clicker cutting, cannot cope up
with
Constructing the Bag
A high quality bag requires a great deal of preparation. A
common misconception is that cutting leather and stitching it
together makes a bag. Although this may be true of inexpensive
bags, the making of a high quality bag requires very little
stitching but great deal of work constructing a bag.

Assembling the bag

The bag is first put together with glue before being stitched. This
ensures the bag has the correct shape and that each bag is joined
together exactly where it should be. Only then is the bag finally
assembled. The bag is checked at all stages to ensure good
quality.

Quality and Checking

Attention to details such as burning down excess threads,
cleaning off glue and polishing, takes place before a final check of
each bag by three different checkers.
Fittings
Only solid brass buckles are used for Hidesign products. Brass
scrap is obtained, melted and each having been individually sand
cast and hand polished reflecting the old saddlery tradition,
Fittings that are not produced in our foundry are imported from
the most respected suppliers in Europe and the rest of the world.
Our traditional methods allow us to produce a product that is rich
in character, texture and individuality. Each bag is therefore, by
its very nature, a Limited edition.

Final Product
Hidesign knows no other way of making bags that will
give years of pleasure.

2. Focus
Focus on uniqueness and innovation. Each product was “limited
edition”

INNOVATION:
Hidesign products are unique. The multicultural design team has
won several international awards for its excellence and design
leadership. True to its values, Hidesign constantly innovates to
stay in touch with the continuing fast moving changes in the
lifestyle of its customer.

Hidesign mainly targets the upwardly mobile educated

internationally minded executive. The brand is known for its
craftsmanship and the quality of its products.

The target market consisted of people aged between 20 and 50

years, belonging to high income households, who traveled
frequently, often internationally; and insisted on high quality
products.

Corporate level strategy- expansion

1. Horizontal Integration
Process of acquiring or merging with industry competitors for
achieving competitive advantage.
Hidesign is focusing on India and other emerging markets to
grow business hence, the company tied up with Kishore Biyani-
led Future Group & rolled out first India-specific brand Holii — in
all the major . It expects to clock sales of Rs25 crore within two
years from the new brand.

Besides developing the Holii brand, the company has tied up

with fashion designer Rohit Bal for another collection, which will
also be launched by next month.

“Our new brand is completely a new concept and is very Indian in

terms of its designs. We will be working closely with the Future
Group, where they will provide expertise in retail and operations
while we will be associated with brand building and design,”

Dilip Kapur, President, Hidesign

2. Vertical Integration
Company expands its operation either backward into an industry
that produces input for the company’s product or forward into an
industry that uses or distributes company’s products.

Backward Integration

The core value of the brand is its attitude, tradition and its
commitment to environment.

Kapur did not like the look of normal leather, which seemed to
slick to him. He saw some samples of leather that had been
tanned using traditional methods of soaking the hides in
vegetable extracts, and liked the different look this gave the
material hence, Hidesign set up two wholly-owned tanning
establishments near Chennai to maintain control over the quality
of its leather. Where most other bags used plated-metal fittings,
Kapur insisted on solid brass.

3. Diversification
Hidesign was viewed as a product out of the mainstream in its
export markets, carried by exclusive distributors who built
something of a cult following within each of their geographies so,
Hidesign products were typically sold in stores with more of a
fashion emphasis. But in 2000 the brand started Diversifying into
retail which signaled a new era for Hidesign. By 2006, the firm
owned 35 stores in India and had announced plans for 17 more.

The first exclusive Hidesign boutique outside India opened in

August, 2004 in a 400-square-foot space in Dubai’s newly-opened
Souq Madinat Jumeirah shopping mall.

As the nature of the business changed, the brand became more

planned. It achieved real clarity on what it was and what it
wanted to achieve, that is it moved towards brand equity.

In 2009, Hidesign also signed agreements to open new stores at

the airports in Copenhagen and in Hong Kong. The Hong Kong
store would be opened by a new joint venture for China
established with Ray Chan, the former account manager for
Hidesign at the firm’s Chinese distributor.

The company is also studying the markets of Switzerland, South

Africa and Canada. In the domestic market too, Hidesign plans to
expand from 35 stores currently and add 18 more in 15 months.
Average investment on each store in India would be Rs 35-50
lakh, while the company would invest about Rs 70 lakh per store
abroad.

Hidesign is positioned as a premium brand in the country

whereas internationally it is seen more as an affordable
luxury.
 Business Models

Environmental threat and opportunity profile

(ETOP)
Environmental threat and opportunity profile is referred as ETOP
profile. Environmental analysis is a systematic process that starts
from identification of environmental factors, assessing their
nature and impact, auditing them to find their impact to the
business and making various profiles for positioning.

Environmental Analysis Process

A business manager should be able to analyze the environment
to grasp opportunities or face the threats. Some factors are
positive to the organization whereas others are negative.
Therefore, it is necessary to find out their impact to the
organization. Positive, neutral, and negative sign in ETOP denotes
the relevant impact of environmental factors. Organizations need
to build their own strengths and repair/cover up their weaknesses
available in the business environment. Therefore, this process
consists not only a single step but various steps. Environmental
analysis comprises scanning, monitoring, analyzing and
forecasting the business situation.

 Scanning is to get the relevant information from the

information overload. It is to focus on the most relevant
information.
 Monitoring is to check the nature of the environmental
factors.
 Analyzing requires data collection and use of different
required tools and techniques.
 Forecasting is to find the future possibilities based on the
past results and present scenario.

Environmental analysis process is not static but a dynamic

process. It may differ depending on the situation or the product.
However, a general process with few common steps can be
identified as the process of environmental analysis. The
commonly followed steps are viz.

• Monitoring or identifying environmental factors.

• Scanning and selecting the relevant factors and
grouping them.
• Defining variables for analysis.
 • Using different methods, tools and techniques for
analysis.
• Analyzing environmental factors and forecasting.
• Designing profiles.
• Strategic positioning and writing a report.

Identifying Environmental Factors

First of all a strategist should identify all the relevant factors that
might affect his or her business. In this process, one should first
know what the internal areas of the business are. This includes all
the systems, internal structure, strategies followed, and culture of
the organization. All these areas can be covered into the five
functional areas in classical approach. Similarly, a business daily
interacts with the close environmental components outside the
business such as customer, competitor, and supplier. It might
cover all other stakeholders such as trade union, media and
pressure group. Furthermore, general such business environment
factors as political-legal, economic, socio-cultural, and
technological factors are to be identified.

Scanning and selecting relevant and key

factors
Out of all the business environmental factors, a strategist should
focus only on the relevant factors for further analysis. All the
factors are not equally important and affecting to the business. In
this context, a strategist has to scan the environmental trend to
select only the most affecting environmental factors from the
information overload. This step paves the way of environment
analysis and forecasting.

Defining Variables for Analysis

Selected environmental factors are to be further specified into
the variables. A concept can be interpreted into different
variables. For example, political situation can be measured using
few variables such as instability, reliability and long-term effect.
Economic environment might cover many variables such as Per
Capita, GDP, and Economic policies that can be further classified
into many other variables. Variables are the basis of
measurement in environmental analysis process. Variables can
be compared, grouped, correlated and predicted to find the
clearer picture of the broader concept. It is therefore, necessary
to define the variables first in any kind of analysis including the
environmental analysis.

Using Different Methods, Techniques and

Tools
Different types of methods, tools, and techniques are used for
analysis. Some of the major methods of analysis can be Scenario
Building, Benchmarking and Network methods. Scenario presents
overall picture of its total system with affecting factors.
Benchmarking is to find the best standard in an industry and to
compare the one’s strengths and weakness with the standard.
Network method is to assess organizational systems and its
outside environment to find the strength and weakness,
opportunity and threats of an organization.

Some of the techniques of primary information collection can be

Delphi, Brainstorming, Survey, and Historical enquiry. Delphi
technique collects independent information from the experts
without mixing them. Brainstorming is information collection
technique being open minded without criticizing others. Survey is
to design questions and to ask them to the participants whereas
the historical enquiry is a kind of case analysis of past period.

Analysis tools can be statistical such general descriptive tools as

mean, median, mode, frequency. Tools can be inferential as
ANOVA, correlation, regression, factor, cluster, and multiple
regression analysis. There are many tools of analyzing functional
areas. Finance and accounting use mostly profitability, leverage,
fund flow and other similar accounting and financial tools for
analysis. Human resources use employee turnover, training,
satisfaction and many others as the basis of evaluating strength
and weakness. Production area is assessed using quality control,
productivity, breakdown, and many others. Similarly, marketing
effectiveness is judged from the sales volume and market
coverage. Research and development is perceived successful if it
can really develop the strength in an organization.

Forecasting Environmental Factors

Collecting relevant information from the selected areas and to
identify the variables in such areas are the basics of analysis.
Analyzing the past information to predict the future is the main
objective of this step. As discussed earlier, use of different
methods, techniques, and tools comes under the analysis
process. It is, therefore, a comprehensive process that analyzes
collected information using different tools and techniques.

Designing Profiles
After analyzing the environmental factors they are recorded into
the profiles.

Such profiles record each component or variables into left side

and their positive, negative, or neutral indicators including their
statement in the right side. Internal areas are recorded in
Strategic Advantages Profile (SAP) and external areas are
recorded in Environmental Threat and Opportunity Profile (ETOP).
Strength, Weakness, Opportunity, and Threat (SWOT) profile can
be designed combining both of these two profiles into one.
Nowadays, strength & weakness and opportunities & threats
(SWOT) profile has become very popular.

Environmental Threat to Leather Industry

Dharavi is one of the major hubs in raw leather manufacturing
and processing. There are several tanneries located in and around
the area. Tanning is one of the major processes of refining and
processing raw leather.

The nature of the processes involved in tanning results in the

discharge of untreated effluents. The effluent not only
contaminates the water supply on the land, it also affects the food
supply for the population. All of these forms of pollution have
detrimental effects upon the health of the people in the vicinity.
Hence, in view of the environmental considerations and threat to
human life the Government has ordered for the closure of the
tanneries. Presently, there are about 10-12 tanneries which are
operational. Over the years these have also shrunk in size.
Tanning requires not only chemicals but also involves multiple
stages of treatment, which need space. Thanks to the
Maharashtra Government’s Directives, in the space previously
occupied by these tanneries other tenements have come up,
leading to mushrooming of other unorganized sectors. The
existing tanneries do not treat the leather completely. They
source vegetable tanned hides or semi tanned leather from within
Maharasthtra (Baramati, Meeraj) or from Chennai, Kanpur and
Kolkatta and then carry out only the finishing work. (According to
one of the respondents the tanneries do not carry out even 20%
of the processes, which should be carried out to make the leather
of international standards. The leather called ‘Dharavi leather’ is
banned by various countries in Europe and US).

Problems of Tanneries
• Environmental pollution due to lack of
facilities for treatment and disposal of
hazardous wastes.

• Lack of financial assistance

• High cost of semi-tanned leather

• Unhygienic working conditions leading to

health hazards for the workforce.

• No facilities for quality testing.

Environmental Threats:
• Soil contamination by the sludge produced thereby affecting
the agriculture of the adjoining region.
• Water pollution by the by-products and solid wastes
disposed by the tanneries and leather manufacturing
industries thereby affecting water life and pisci-culture.
• Using cheap imported synthetic rubber from China thereby
resulting in poor quality products which can have adverse
effects on skin/body.
• Rampant slaughtering of wild animals to procure authentic
leather thereby affecting wildlife and eco structure of nature.
• Disposal of untreated wastes into land and water bodies
from tanneries results in air and water pollution as well as
emission of greenhouse gases like methane and carbon
dioxide.

Opportunities:
• Abundant scope to supply finished leather to
multinationals setting up shops in India.
• Growing fashion consciousness globally.
• Product diversification in leather garments and goods.
• Growing domestic and international market.
 Porter five forces analysis

"Porter's five forces" is a framework for the industry analysis and

business strategy development developed by Michael E. Porter of
Harvard Business School in 1979. It uses concepts developing
Industrial Organization (IO) economics to derive five forces that
determine the competitive intensity and therefore attractiveness
of a market. Attractiveness in this context refers to the overall
industry profitability. An "unattractive" industry is one where the
combination of forces acts to drive down overall profitability. A
very unattractive industry would be one approaching "pure
competition".

Three of Porter's five forces refer to competition from external

sources. The remainder are internal threats. It is useful to use
Porter's five forces in conjunction with SWOT analysis.

Porter referred to these forces as the micro environment, to

contrast it with the more general term macro environment. They
consist of those forces close to a company that affect its ability
to serve its customers and make a profit. A change in any of the
forces normally requires a business unit to re-assess the
marketplace given the overall change in industry information.
The overall industry attractiveness does not imply that every
firm in the industry will return the same profitability. Firms are
able to apply their core competencies, business model or
network to achieve a profit above the industry average. A clear
example of this is the airline industry. As an industry, profitability
is low and yet individual companies, by applying unique business
models, have been able to make a return in excess of the
industry average.

Strategy consultants occasionally use Porter's five forces

framework when making a qualitative evaluation of a firm's
strategic position. However, for most consultants, the framework
is only a starting point or "checklist" they might use. Like all
general frameworks, an analysis that uses it to the exclusion of
specifics about a particular situation is considered naїve.

Porter's five forces include three forces from 'horizontal'

competition: threat of substitute products, the threat of
established rivals, and the threat of new entrants; and two forces
from 'vertical' competition: the bargaining power of suppliers
and the bargaining power of customers.

According to Porter, the five forces model should be used at the

line-of-business industry level; it is not designed to be used at
the industry group or industry sector level. An industry is defined
at a lower, more basic level: a market in which similar or closely
related products and/or services are sold to buyers. A firm that
competes in a single industry should develop, at a minimum, one
five forces analysis for its industry.

Porter makes clear that for diversified companies, the first

fundamental issue in corporate strategy is the selection of
industries in which the company should compete; and each line
of business should develop its own, industry-specific, five forces
analysis. The average Global 1,000 company competes in
approximately 52 industries (lines of business).

This five forces analysis is just one part of the complete Porter
strategic models. The other elements are the value chain and
the generic strategies
The Five Forces

A graphical representation of Porter's Five Forces

The Threat Of Substitute Products or

Services
The existence of products outside of the realm of the common
product boundaries increases the propensity of customers to
switch to alternatives:

• Buyer propensity to substitute

• Relative price performance of substitute
• Buyer switching costs
 • Perceived level of product differentiation
• Number of substitute products available in the market
• Ease of substitution. Information-based products are more
prone to substitution, as online product can easily replace
material product.
• Substandard product
• Quality depreciation

Example -Bally, Bottega Veneta, Coach, Fendi, Gucci, Lancel, Longchamp

The Threat Of The Entry Of New

Competitors
Profitable markets that yield high returns will draw firms. This
results in many new entrants, which eventually will decrease
profitability. Unless the entry of new firms can be blocked by
incumbents, the profit rate will fall towards a competitive level
(perfect competition).

• The existence of barriers to entry (patents, rights, etc.)The

most attractive segment is one which entry barriers are high
and exit barriers are low. Few new firms can enter and non-
performing firms can exit easily.
• Economies of product differences
• Brand equity
• Switching costs or sunk costs
• Capital requirements
• Access to distribution
• Customer loyalty to established brands
• Absolute cost advantages
• Learning curve advantages
• Expected retaliation by incumbents
• Government policies
 • Industry profitability; the more profitable the industry the
more attractive it will be to new competitors
• Internet era; today competitors need only a website to enter
a market

Example- DKNY recently entered into leather handbag industry…

The Intensity Of Competitive Rivalry

For most industries, the intensity of competitive rivalry is the
major determinant of the competitiveness of the industry.

• Sustainable competitive advantage through innovation.

• Competition between online and offline companies; click-
and-mortar -v- brick-and-mortar
• Level of advertising expense.
• Powerful competitive strategy used by a company which can
intensify competitive pressures on their rivals.

How will competition react to a certain behavior by another firm?

Competitive rivalry is likely to be based on dimensions such as
price, quality, and innovation. Technological advances protect
companies from competition. This applies to products and
services. Companies that are successful with introducing new
technology, are able to charge higher prices and achieve higher
profits, until competitors imitate them. Examples of recent
technology advantage in have been mp3 players and mobile
telephones. Vertical integration is a strategy to reduce a
business' own cost and thereby intensify pressure on its rival.

The Bargaining Power Of Customers

(Buyers)
The bargaining power of customers is also described as the
market of outputs: the ability of customers to put the firm under
pressure, which also affects the customer's sensitivity to price
changes.

• Buyer concentration to firm concentration ratio

• Degree of dependency upon existing channels of distribution
• Bargaining leverage, particularly in industries with high fixed
costs
• Buyer volume
• Buyer switching costs relative to firm switching costs
• Buyer information availability
• Ability to backward integrate
• Availability of existing substitute products
• Buyer price sensitivity
• Differential advantage (uniqueness) of industry products
• RFM Analysis

The brand has been able to identify and satisfy the customer's
desires. The customers were in need of a brand that can offer
them quality and looks which was lacking in the unbranded
products. The brand is relevant to customer because of the
change in the lifestyle of the upwardly mobile Indians. Although
the brand is priced astronomically , the target group is finding
value in this product. But with these prices the brand is out of
reach to most Indians.

The Bargaining Power Of Suppliers

The bargaining power of suppliers is also described as the market
of inputs. Suppliers of raw materials, components, labor, and
services (such as expertise) to the firm can be a source of power
over the firm, when there are few substitutes. Suppliers may
refuse to work with the firm, or, e.g., charge excessively high
prices for unique resources.
• Supplier switching costs relative to firm switching costs
• Degree of differentiation of inputs
• Impact of inputs on cost or differentiation
• Presence of substitute inputs
• Supplier concentration to firm concentration ratio
• Employee solidarity (e.g. labor unions)
• Supplier competition - ability to forward vertically integrate
and cut out the buyer

The BCG Growth-Share Matrix:

The BCG Growth-Share Matrix is a portfolio planning model
developed by Bruce Henderson of the Boston Consulting Group
in the early 1970’s. It is based on the observation that a
company’s business can be classified into four categories
based on combinations of market growth and market share
relative to the largest competitor, hence the name “growth-
share”. Market growth serves as a proxy for industry
attractiveness, and relative market share serves as a proxy for
competitive advantage. The growth-share matrix thus maps
the business unit positions within these two important
determinants of profitability.
 This framework assumes that an increase in relative market
share will result in an increase in the generation of cash. This
assumption often is true because of the experience; increased
relative market share implies that the firm is moving forward
on the experience curve relative to its competitors, thus
developing a cost advantage. A second advantage is that a
growing market requires investment in assets to increase
capacity and therefore results in the consumption of cash. Thus
the position of a business on the growth-share matrix provides
an indication of its cash generation and its cash consumption.

Henderson reasoned that the cash required by rapidly growing

business units could be obtained from the firm’s other business
units that were at a more mature stage and generating
significant cash. By investing to become the market share
leader in a rapidly growing market, the business unit could
move along the experience curve and develop a cost
advantage. From this reasoning, the BCG Growth-Share Matrix
was born.

The Four Categories Are:

• Cash Cows are units with high market share in a slow-
growing industry. These units typically generate cash in
excess of the amount of cash needed to maintain the
business. They are regarded as staid and boring, in a
"mature" market, and every corporation would be thrilled to
own as many as possible. They are to be "milked"
continuously with as little investment as possible, since such
investment would be wasted in an industry with low growth.
• Dogs or more charitably called pets, are units with low
market share in a mature, slow-growing industry. These
units typically "break even", generating barely enough cash
to maintain the business's market share. Though owning a
break-even unit provides the social benefit of providing jobs
 and possible synergies that assist other business units, from
an accounting point of view such a unit is worthless, not
generating cash for the company. They depress a profitable
company's return on assets ratio, used by many investors to
judge how well a company is being managed. Dogs, it is
thought, should be sold off.

• Question Marks (also known as problem child) are

growing rapidly and thus consume large amounts of cash,
but because they have low market shares they do not
generate much cash. The result is large net cash
consumption. A question mark has the potential to gain
market share and become a star, and eventually a cash cow
when the market growth slows. If the question mark does
not succeed in becoming the market leader, then after
perhaps years of cash consumption it will degenerate into a
dog when the market growth declines. Question marks must
be analyzed carefully in order to determine whether they are
worth the investment required to grow market share.

• Stars are units with a high market share in a fast-

growing industry. The hope is that stars become the
next cash cows. Sustaining the business unit's market
leadership may require extra cash, but this is worthwhile if
that's what it takes for the unit to remain a leader. When
growth slows, stars become cash cows if they have been
able to maintain their category leadership, or they move
from brief stardom to dogdom.
As a particular industry matures and its growth slows, all business
units become either cash cows or dogs. The natural cycle for
most business units is that they start as question marks, and then
turn into stars. Eventually the market stops growing thus the
business unit becomes a cash cow. At the end of the cycle the
cash cow turns into a dog.

Drawbacks Of BCG Matrix:

The growth-share matrix once was used widely, but has since
faded from popularity as more comprehensive models have been
developed. Some of its weaknesses are:

 Market growth rate is only one factor in industry attractiveness, and relative
market share is only one factor in competitive advantage. The growth-share
matrix overlooks many other factors in these two important determinants of
profitability.

 The framework assumes that each business unit is independent of the others.
In some cases, a business unit that is a "dog" may be helping other business
units gain a competitive advantage.

 The matrix depends heavily upon the breadth of the definition of the market.
A business unit may dominate its small niche, but have very low market
share in the overall industry. In such a case, the definition of the market
can make the difference between a dog and a cash cow. While its
importance has diminished, the BCG matrix still can serve as a simple tool
for viewing a corporation's business portfolio at a glance, and may serve as
a starting point for discussing resource allocation among strategic business
units.

BCG matrix for Hidesign:

Cash cow: briefcases and travel bags, back packs, conference folders,
wheeled luggage.

Star: Computer bag, wallet.

Cash Dog: wash bags, pencil case.

Question marks: Across body bags.

SWOT ANALYSIS OF HIDESIGN LEATHER

PRODUCTS

Strengths:

• HiDesign is recognized worldwide and now sells leather

bags and garments under its own name in Australia, Greece,
India, New Zealand, Scandinavia, Slovakia, South Africa, the
United Kingdom, and the United States.

• They have the expertise to create a product that is

excellent.

• They do not compromise on quality of the products.

• They have stayed focused on innovation, based on the

heritage of craftsmanship.
 • They stands out for the sensuous naturalness of its high
quality leathers and the smooth soft glow of its solid brass
fittings.

• They have loyal customers.

WEAKNESSES:

• They are very weak management wise.

• Their products are only for the higher income class people
and very few for middle class people.

• They have concentrated market i.e. only in metro cities.

• They follow traditional ways of production and through these

ways it is very difficult to compete with the competitors.

• They are highly dependent on craftsmanship.

• The rate of up gradation of technology is very slow.

OPPURTUNITIES:

• Demand of the leather products is very high in domestic as

well as in international market.

• They can expand their market share providing more range of

products at lower price mainly for middle class people.

• They can reduce the production time by using the advanced

technologies.
 • They can market their products in 2nd tier cities instead of
marketing in only metros.

THREATS:

• Competition is quite high in this industry.

• Threats from the competitors as they are using new

technologies in production and hidesign is still following the
traditional way.

• Threats from some organizations like PETA as they are

negatively advertising the leather industry.

• Environmental threats as the waste from these industries are

very harmful.

• International standards are very strict.

 Course of action
for growth without
brand dilution ?

Solutions:-
• Approach 1 : Launch the new variety keeping the same
brand name: Hidesign Brand Extension

• Approach 2 : Undertake Promotion campaign and look for

alternatives in the form of Joint ventures & Franchisee.
 • Approach 3 : Enter into a different product line & target
a different customer segment.

Line Extension:- A current brand name is used to enter a new

market segment in its product class.

Brand extension:- A current brand name is used to enter a

completely different product class.

Brand Extension Model

 Brand Extension Categorization
• Functional Concept : A brand with a functional concept as
one designed to solve externally generated consumption
needs.

• Symbolic Concept : A brand with a symbolic concept is

designed to associate the individual with a desired group,
role, or self-image

• Experimental Concept: A brand with an experiential concept

as one designed to fulfill internally generated need for
stimulation and/or variety.

Hidesign brand must undergo an image makeover after a

customer opinion revealed that while the brand was highly
valued for its quality, it was perceived as "boring" and not "cool"
enough.In an attempt to change this image, Hidesign must
undertake ad campaign in for giving the brand a trendier image,
to appeal more to younger prospects. In the campaign, Hidesign
must promote itself as a "fashion forward" brand that customers
in any part of the world could relate to.

New Product Line:

Hidesign bags were typically sold overseas in a price range
between $125 and $200 (in 2006 prices). This represented a
markup of 550-600% over factory cost. Typically, the wholesale
price for a bag was 85% over the landed costs in a foreign
country, and a standard retail markup was in the vicinity of 240-
250%.

Instead of targeting the premium & executive class the company

must launch products for , instead of an upper-upper class
brands. Every country is an individual case. It is not easy for
brands to cross over cultural lines. If one is successful in
Australia, that doesn’t mean it will be successful in Indonesia.
The company must realize that each country is a separate
independent exercise in brand building.

For gaining success in Domestic market Hidesign must launch -a

range of high class trendy products, which can be designed for
daily use and must be priced at an affordable range. With a wide
range of color options like black, biscuit, tan, light blue, dark blue,
red, etc., the range must target at young working women &
youth who might find it interesting to match the range of bags
with their wardrobe...
 Alternatives to integration
“Being able to find the right joint venture partner is an
important barrier to scaling Hidesign’s boutiques outside
India”

Dilip Kapur, President, Hidesign

Hi-Design only had success with people we have already known,

never looked systematically and professionally for joint venture
partners instead focused on commitment and capability.With a
strong joint venture partner ,who can work independently with the
company the organization can further strengthen the BRAND .
They simply can not micro-manage from India .They tried that at
first in Dubai because they hoped it was close enough to India,
but it proved a disaster. Hi-Design can manage things centrally
within India, but not internationally.
 Conclusion
By mid-2009, Hidesign’s revenues were reported as being in the
vicinity of 112,000 crores , growing at 25% per year. Within a few
years, Hidesign penetrated all the likely locations it wished to
occupy in India, so international expansion remains the key to
growing this business.

Kapur and his German-born wife Jacqueline had opened two

boutique hotels in Pondicherry in 2004 and 2005, and Kapur had
mused in the press that Hidesign’s joint venture in China might
provide the right vehicle for the firm to diversify into apparel.
However, it was clear to the Hidesign president that accelerating
the pace at which the firm opened stores abroad and establishing
a truly international brand stood at the top of his leadership
agenda.
 Hi Design Boutique

Bibliography
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- Charles W. L. Hill

- Gareth R. Jones

2. Strategy Formulation and Implementation

- Pearce John A & Robinson R B

3. www.cityleathers.com/leatherBags.htm
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5. http://www.livemint.com/2009/08/23111919/Hidesign-to-
focus-on-Indiaspe.html

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expand-the-brand.htm

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9. www.hidesign.com/content/Images/showroom.jpg