Sudip Ghose, CEO , VIP Industries delivered the special address at the Pitch CMO Summit Delhi edition that took place on the 3rd of May at the Leela Ambience , Gurgaon.
Here are the key takeaways from his session on ‘Brand Love: Combining Trust and Magic‘
On the Skybags brand
The owners of VIP realised that if we don’t do something now, it will be very difficult for us to survive. We listened to our consumers and we realised that there were categories we were not present in. We entered the backpack segment and have sold 3 million pieces of backpacks in just four years’ time. We are now the biggest backpack seller in the country.
On the importance of quality Product
‘One can do enough digital advertising, but if your product is not great, nothing will work.’
‘If the product is good, a brand does not need to spend much on advertising’
On Youth Brands
Of all the brands that we have managed, managing a youth brand is the most difficult thing to do because a 16-year-old today is way different from the 16-year-old yesterday.
On the Need to Change / Constantly Reinvent
For a traditional company, it’s all about listening to your consumers and acting. We learned and changed. Had we not done this, someone else would have seized the chance.
Listen to your consumer. Be ready to change- Your mindset, Your business model, product architecture, and also the communication blueprint.
On digital advertising
Earlier we focussed on traditional channels and today we are the largest selling backpack brand on Flipkart. 40% of our advertisement budget for Skybags is set aside for the digital medium.