New Delhi, August 19, 2020.
On the occasion of India’s 74th Independence Day, World of Own Brands (WOOB) announces its official launch through an online webinar Freedom from Brands and Private Label: An Opportunity or Myth! WOOB also launched their Content arm in the form of an E-Magazine, in the presence of Industry Leaders. WOOB aims to bring together manufacturers & buyers of white labels & private labels and solve the fragmented supply chain of small-scale manufacturers while the e-magazine will help SME, MSME OEMs, exporters, retailers, buyers and service providers to collaborate.
The online launch event was graced by the participation of industry leaders from a very diverse background like: retail, ecommerce, FMCG, contract manufacturing and global product development agencies. The launch webinar was moderated by Mr. Jamshed K Daboo, StartUp Mentor & Board of Director Trent Hypermarkets.
In this innovative and informative online launch event, various industry relevant questions were addressed by ace industry leaders, like talking about the role that ‘Private Label’ plays from a retailer’s point of view. Talking about the same, Mr. Kamaldeep Singh, President – Food & FMCG – Future Group said, “India is a very diverse country and so are customer needs, a retailer will not be able to meet all needs of the customers if Own Brands doesn’t exist”.
Sharing about Grofers Brands and how they attend the unique needs of the customers, Mr. Bikram Singh Bedi President – Strategy & New Initiatives – Grofers said, “Own Brands lifecycle changes as the lifecycle of a retailer evolves”.
He added, “It’s a healthy mix of Own Brands and National Brands for a retailer, they complement each other and technology helps to identify the gaps with respect to customer needs viz. price or quality and thus Own Brands is a great way to get people to start trying the category and. He further advised that Private Labels should formulate a large chunk of retailer’s profit”.
Talking about the Quality Assurance promise of Big Basket Brands, Mr. Vishal Das, Vice President – Group Category Head – bigbasket.com, said “Whatever brands Big Basket build is not only taking into consideration Indian brands but also what globe is doing. Consumers are ready to try today. Lot of research goes behind developing a product which is as good as any FMCG company”.
While sharing the experience of International markets, Mr. Pedro Carmo, Global Sourcing Director, Daymon said, “Every time a customer visits a retailer, they always buy a private label product which was not the case around 20 years back. Private label is the key driver to generate differentiation and loyalty. Private Brands are experiences and values which allow consumer to think about specific company”.
Talking about Private Labels manufacturing while running a successful brand, Mr. Dipak Sanghavi, MD Nilon’s said, “It’s an opportunity of having a collaborative strategy wherein manufacturing and supplying private label along with Nilon’s branded products, which helps capturing maximum category share as a manufacturer”.
As a manufacturer Mr. Sunil Chari, Managing Director Rossari Biotech, said “Big brands are about costs which in turn gets compensated by volumes offered by them, newer players are looking forward to purposeful products, innovative products, environment friendly products etc. Rossari is helping companies by offering them innovative replacement of traditional formulations using its ODM model”.
Mr. Bobby Raymond, Strategic Account Director, TraceOne, described the importance of millennials becoming an important segment, which are looking for innovations in products like plant based, vegan etc. and also responsible products, clean products or products with purpose and private brands can quickly respond to such consumer demands.
On threat being posed by private brands to FMCG brands Mr. Pankaj Kapoor, Head – NPD and 3P Operations, Marico Limited said, “Whichever product is good it will sell and a brand is made by consumers.” He further spoke about, private brands as an opportunity as it helps getting consumers into consumption cycle of a category or product and it’s a collaborative state as if a private brand is doing good then it’s a learning for us.
There was a lot of other information sharing from the industry stalwarts around:
o Retail business
o Diversified retail formats
o How to grow along with retailers
o Change in consumption patterns towards health & hygiene during COVID 19 etc.
The power packed webinar was followed by the launch of India’s only E-Magazine for Own Brands & Private Labels.
The launch webinar ended with, Mr. Vicky Menzes Co-Founder WOOB detailing the purpose of the magazine. Mr. Saurabh Bohra, Co-Founder WOOB while sharing his thoughts around commerce platform which is to be launched next, reiterated the clear thoughts around purpose of WOOB towards enhancement and upliftment of SME, MSME brands from Local to Vocal and then Make to Global. Mr. Minesh Lodaya, Co-Founder WOOB shared his thoughts around the technology solutions used in constructing the e-magazine word to word & tech-tools to be used for future verticals viz commerce, create & connect.