| on a new wicket
Mumbai, Jan. 19: Pantaloon has decided to take a plunge into event-based marketing in its quest for new revenue streams.
The vehicle for the new journey will be the hoopla that surrounds the ICC World Cup Cricket, starting next month.
Having bagged the sole retail right to the World Cup merchandise in India, Pantaloon is looking at sales of more than Rs 8 crore on this count. This is likely to come from a combination of attractive pricing and an extensive distribution reach across the country.
Company director Rakesh Biyani told The Telegraph that while a huge potential existed in the country for event-based marketing, Pantaloon is looking at re-defining this concept in the years to come.
Though he declined to divulge the nitty-gritty, Biyani said not only will event-based marketing emerge as a new business activity, it could also emerge as a new area to bolster the company’s earnings.
For the forthcoming World Cup, the company has obtained rights to use Dazzler, the ICC World Cup mascot, as well as to design, manufacture, distribute and market merchandise related to the carnival.
The company has also designed a range of apparel and accessories for the cricket-crazy fans in the country. The range includes replicas of uniform of the Indian team.
Biyani pointed out that his company has also decided to price the products attractively. While accessories will be available at a base price of Rs 30, the uniform of the Indian team will begin at Rs 249 and go up to Rs 399.
“We have received an excellent response to this idea from both retail and institutional clients. Our products will be available across a chain of Pantaloon stores, Big Bazaar, factory outlets apart from other points.”
In Calcutta, the company has decided to come up with an offer by which a purchase of a World Cup shirt would enable the buyer to experience the excitement of all matches India plays at the World Cup on a large screen at Nazrul Manch and Netaji Indoor Stadium, free.