 FEB 13:
Bollywood can be a
catalyst for the booming Indian retail trade sector and push fashion
merchandise worth over $ 4 billion in the next two years, a new study
says."(In India) before...Gucci, Versace or Louis Vuitton...it was
only when a film hit the box-office that a fashion trend established
itself," says the study conducted by Images, a fashion trade magazine.
"So why not create a Bollywood Boulevard?" it suggested, referring
to an umbrella body that would produce merchandise based on prominent
Hindi films.
Images estimates that Indian retail trade would grow to 50 million
square feet of quality space by 2006-07 - half of it earmarked for
fashion and lifestyle merchandise.
This means just the fashion segment could generate up to Rs 200
billion ($4.5 billion) in sales at an expected 35 hypermarkets, 325
large department stores, 1,500 supermarkets and over 10,000 exclusive
retail showrooms.
These retail outlets need to lease or buy space in over 300 malls
across the country, the study adds.
 The report argues that Bollywood has a bigger draw on customers
than any other medium, with brands centered on Hindi movies filling the
skyrocketing retail demand for new products.
"Film stars continue to be the ones who make the first style
statements," says the report, suggesting that an umbrella
organization
create lifestyle merchandise every time a big film is released.
"Each film is a brand in itself and, as each film releases, we have
a fresh new brand of fashion and lifestyle products pushing fashion
among the masses."
The success of brands like Pepsi, Coca-Cola, Provogue and Reid &
Taylor by using film celebrities like Aamir Khan, Shah Rukh Khan,
Amitabh Bachchan and Fardeen Khan, argues the report, has paved the
path for the successful branding of Bollywood.
The model of a Bollywood Boulevard, it adds, could be similar to
that of Spanish fashion major Zara, which brings out products in short
lead time - from concepts to retail.
The critical success factors for such a venture would be wide
linkages with film production houses.
This would give a boost to the fashion sector, including clothing,
jewelry, watches, health, beauty care services and mobile handsets -
which constitute around 60 percent of the organized retail pie. | 
