Fabindia Overseas Pvt Ltd: CMOs must reskill and abandon the familiar Fabindia''s Karan Kumar
In this edition of CMO
Slambook BE gets up, close and personal with Fabindia’s chief marketing
officer Karan Kumar to share
his journey from working across categories at one of the largest Indian
conglomerates, ITC, before taking charge of the newly created role.Having
spent over 16 years in an ecosystem that was now very familiar, the time was
ripe to challenge myself one more time to now perform in a completely new
environment, experience cultural pluralism, leading change while working with a
completely new set of people.
The opportunity came as a surprise – quite
literally over a phone-call out of nowhere one evening. The engagement process
was a prolonged and by the end of it, I was more than convinced that it was
here that I wanted to begin the next phase of my professional growth. The
creation of a brand and marketing department clearly outlines the importance
that the organisation accords to this area.The brand stories and journeys are different.
Fabindia has put me right in the middle of change management like never before.
The brand is transforming and structures evolving. Managing change in this
transitional stage is truly exciting and fulfilling.
To withdraw support from a fashion apparel product
line that we had built and furthered very painstakingly. I learnt from that
experience that personal passion can sometimes consume you and make you
overlook the change in operating context. A context where the opportunity did
not exist anymore and where the reasonable option was to respectfully withdraw.For
a particular business or brand, 4 years. If it is at a group position, I would
say 6 years. CMOs must continue to re-skill. A change in their context – one
that forces abandonment of the familiar - is essential. That’s also a good
time-period for a CMO to mentor and prepare his successor.
At a recent consumer immersion exercise, I was
asked about how despite the rapid growth in our footprint, our products
continue to represent our commitment to India’s craft and artisanal traditions.
The answer lies in our commitment to both quality and scale of engagement with
artisans and crafts-persons. Our relationships with our supply partners coupled
with the supply chain organisation ensures that the mouth of the funnel always
remains full.
The most amazing requests we have received is
for our customers to visit our craft clusters and actually engage with
craftsmen. What’s the biggest challenge at Fabindia? Brands are dying to get
original stories to make themselves memorable. We have a story. We need to tell
it more. Consumers have a right to know how and why we are different. We have
to connect the brand’s rural ingenuity and brilliance of craft to the emerging
set of urban consumers while ensuring that heritage not become a niche social conversation.
And what is the most expensive thing you’ve ever
bought online? I often purchase online for sheer convenience. But I only buy
the brands that I know and trust – brands that are a part of my usual
repertoire and the same ones I would have bought even while I would be in
conventional retail environment. So in-house or “store brands” are not my
thing. And massive dis- counts don’t make me alter my preference and
consideration. I honestly can’t remember what my first purchase was - maybe it
was a pair of socks, where it would have mattered even if that experiment went
completely south! But from there, I have come to buying even a laptop online
which I think speaks a lot for my shopping journey.Conviction
and perseverance from Margaret Thatcher, audacity from Charles Darwin, ability
to visualise and breathe life into a massive canvas from Michelangelo,
communication and change from Barack Obama, and finally, superlative execution
from Jack Welch.
Source:Et.retail.com,India
Wednesday, 29 November 2017