KERALA FASHION: Iconic sari gets recognition

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It is all the rage in Kerala and other places, including Delhi

Balaramapuram village is at the centre of attraction after Kerala’s iconic “Balaramapuram Sari’’ has received Intellectual Property Rights (IPR) protection through Geographical Indications Act (GI Act).

The village is extremely popular in the state for producing such a wonderful sari. Thousands of weavers make the traditional Kerala Kasavu Sari for women and Kasavu Mundu for men in off-white with golden borders in this six square kilometres textile land — near Thiruvananthapuram. They are designed to be worn specially on propitious occasions. According to industry sources, about 27,000 handlooms operate in the village to produce these saris. The weavers — shaliyar community — use traditional throw-shuttle pit looms, fly shuttle looms and make cotton fabrics with pure zeri (kasav) or coloured yarn.

Hundreds of families, including women, are fully involved in weaving these saris. More than 200 cooperative societies are active in this area. They are fully involved in the production and distribution of the products. The Balaramapuram textiles are sold throughout Kerala through Hantex, and the exclusive shops of zeri textiles like Kasavu Kada and Karal Kada. “We never depend on mechanised systems like dobby, jacquard and jala. The imagination of the weavers and the excellence in silver covering and the gold plating of the silk make Balaramapuram matchless. We have no professional designers and fashion consultants. Our clothes are pure eco-friendly and survive for long,’’ says B.AnilKumar, a weaver at Balaramapuram.

Balarampuram sari is famous for its varieties. One can select saris from the price range of Rs 500 to 40,000. The weavers say that the North Indians, especially Delhiites, are fond of these costly saris. The gold, silver content of the zari is the significant factor which adds the brand value of the Balaramapuram clothes. “The present protection under the IPR confirms its uniqueness,’’ says Anilkumar, a trader.

But most of the weavers are apprehensive about the special protection. Besides, they fear that the traditional art may die as youngsters are not joining the profession. Of late their biggest worry has been the arrival of mechanically produced Kasavu sari that is available in the market for only Rs 100. Since then, the Balaramapuram sari has been facing a stiff competition.

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Source : IIPM Editorial, 2010.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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Lost in childhood memories

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Games is another media that has given a blow to the comics industry, for comics are a great source of gaming content. “Comics, with the right story line and characterisation, can make a great premise for a game,” says Salil Bhargava, CEO, Jump Games Pvt. Ltd. For instance, in the past Jump has created the hugely popular mobile games based on Virgin Comics’ Shakti series – Devi, Sadhu & Ramayan 3392 AD.

All this combined is painting the print comics industry red. Sales of popular comic books have registered negative growth during the past few years. Statistics for 2005 show that Tinkle, one of the leading children’s magazine of Amar Chitra Katha, went down to 40,000 copies a month from one lakh a year back. Diamond Comics too suffered a similar fate as sales dropped from a good 25 lakh copies a month to 14-15 lakh copies a month. Another possible reason for the decline in sales is the marketing expenses. There has hardly been any kind of a promotional event or advertising exercise or workshops that could evince interest in kids and parents alike. “The cost involved to create comic books is no more simpler with the artist fee soaring, with heavy job opportunities available through media & animation,” comments Clifford.

So, what is the way out for our beloved colourful characters in the comic strips? Giving the characters a Bollywood touch is one way perhaps. The Indian psyche always react to their on-screen idols. Having them as comic characters would in fact give our old comic strips a fresh and contemporary look. Also with the Bollywood craze increasing abroad, the comic book industry could actually benefit from the huge NRI fan base of actors scattered worldwide. The industry should also look at the rich heritage of mythology and folklore that our country has. “We need to tap them through comics rather than trying to imitate the western super heroes alone. There has to be an even blend to suit the palates of today’s consumers. The style has to be adapted to tell the story the way world wants. We also need to have strong domestic comic themes and characters to sustain longer and face competition,” says Ramaprasad. A potential market that has so far been neglected is hinterland India. The huge rural populace is still addicted to their daily dose of comics. “Using information channels and media, the comic industry guys should tap the big potential in rural and regional market, especially for low cost titles,” advises a senior illustrator in the comic industry.

Be that as it may, our comic book makers need to sit up and re-look at their business models, and ensure that the joy of reading comics does not get lost in oblivion in the future.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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A FIELD DAY FOR THE MEN

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The US banking sector isn’t for the boys anymore and the going may not be easy even for banks that avoided the sub prime trap, but lack scale. Time for critical decisions, says sunanda roy of 4Ps B&M

Just pick them up if your ‘chopsticks’ (read: financial strength) are strong enough! That’s the scene today at the breakfast tables of banking giants that managed to ride the turmoil; because fallen banking giants who have been swept of their feet by the financial storm, make for easy pickings today...

“Wall Street’s leading investment banks have either disappeared or been transformed by the credit crisis,” state Patrick Armstrong and Morgan McGowan, Assistant Economists at Moody’s Economy.com. At the beginning of 2008, there were five major US investment banks that did not also have commercial banking operations: Goldman Sachs, Morgan Stanley, Merrill Lynch, Lehman Brothers and Bear Stearns. The first two have now become bank holding companies, subject to greater regulatory scrutiny and tighter restrictions on their activities. Bear Stearns was sold to JP Morgan Chase in a deal brokered by the Federal Reserve and Treasury Department in March. Lehman Brothers was forced to declare bankruptcy, and Bank of America acquired Merrill Lynch. More recently, of course, Citigroup and Wells Fargo are locked in a takeover battle for Wachovia. The US banking system, which was highly fragmented for a long time, has seen enormous consolidation as a fallout of the credit crisis. “Four of the top 15 financial institutions in terms of market capitalisation in the S&P 500 stock index at the beginning of the year have gone away in recent weeks and we may see some more going away,” intimated Neena Mishra, Senior Banking Analyst, Zacks Investment Research. Bank of America, JP Morgan Chase and Citigroup, which collectively held 21.4% of the country’s deposits at the end of last year, now hold 31.3% of the deposits. At the beginning of the year, Bank of America was at the top of the list, with a market cap of $183 billion; it’s now in second place with $138 billion. JP Morgan Chase was in the third place at the beginning of the year, but has moved up to the first with $141 billion market cap.

JP Morgan entered the current downturn in a sound capital position and with significantly fewer problem assets than its peers. It has been taking advantage of its relative strength by picking up assets cheaply. The bank also benefits from better goodwill with creditors, counter parties, and even government officials. “JP Morgan indeed appears to be among the relatively limited number of banks that have the capital strength and competitive position to absorb such transactions”, feels Gregory T. Siegel, Equity Analyst, Credit Suisse.

We may see further consolidation in the banking space as bigger players seek to build up their position and may be assisted by regulators in doing so, as we observed in the past few deals. Ultimately, we will see the US banking scenario dominated by the few survivors. For consumers, it would mean lesser bargaining power but also the convenience of a wider array of offerings from one shop. JP Morgan, Bank of America and Citigroup have all bulked up recently. They are all large depositories and all universal banks at this point. “Goldman and Morgan are still pure investment banks, but in a new regulatory structure. It would not be surprising to see them evolve more towards the universal banking model,” added Matthew. With recent deals, it looks as though we may be headed towards a meaningful consolidation wave of US banks. Smaller banks may find it harder to continue alone, while strong larger banks may stand to benefit. Stronger medium-sized banks could conceivably migrate higher to larger-bank status, given the likelihood of a fewer number of large global banks. “In general, we’re seeing the ultimate triumph of the commercial banking model,” opined James Kim - Editor in Chief - Finance, FierceMarkets.
Moreover, banking power will now be concentrated in the hands of a few large banks, notably the big three JP Morgan, Bank of America & Citigroup. The rest, will, of course face the critical choice of whether they should look to make a giant leap; or wait for the right set of chopsticks!

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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A real mover & shaker

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With 25% share of the online ad pie, Interactive Avenues has big names in its kitty

When a company wants to advertise using traditional media like print or TVC, the obvious choices are the JWTs and Rediffusions of the ad world. But with alternate media forms like digital, online, OOH, et al, becoming more popular the very same companies look at new agencies with expertise in the new media forms. Although online advertising accounts for just 1% of the $5 billion advertising market, it has still become a favourite place for agencies to park their moolah. Interactive Avenues, which started shop in 2006, is a self-proclaimed specialist in offering creative digital marketing solutions to advertisers and marketers. In its two years of existence, the agency has cornered almost 25% of the online advertising pie in India.

With over 200 digital marketing campaigns for biggies like ICICI, AOL, Future Bazaar, Colgate Palmolive, Reliance ADAG, Tata Mutual Fund and ITC Foods, Interactive Avenues has a successful track record, thanks to its presence across all verticals, making it a full service digital agency, wherein all digital services are housed under one roof – from media services to creative, from search marketing to social media optimisation, from SEO to analytics. “Our aim is to be a leader in each aspect of digital marketing, be it creative, display or search on the Internet and mobile,” states Anjali Hegde, Co-Founder & VP, Interactive Avenues.

Interactive Avenues took advantage of being a first mover in the digital marketing arena & had received funds from Sequoia Capital India to boost its business. The agency works as a consultant and partners with clients to ensure that their business objectives are achieved using digital media. The idea is to provide value added counsel with the advertisers and publishers, in order to participate in the overall marketing process of the companies. In 2007, Interactive Avenues created ‘Attack of Germosaurus’ viral campaign for promoting Oral Health Month, Travelguru ‘Reserved for You’ campaign, etc. The agency has a number of firsts to its credit – country’s first digital Agency of Record with ICICI Bank, first Google Video ad & first honoree at Webby Award. All this has given Interactive Avenues an edge over others.

What’s more? With the number of Internet users increasing in millions, Internet search along with display will add many zeroes to the agency’s profit figures. Asserts Hegde, “Our pitching strategy is generally centered on one big idea, which would provide the most creative solution to the client’s marketing objective. We also take a long term view of the business to ensure that the ideas presented are cost effective, scalable & sustainable. We go after clients, who in the long term, would benefit from the digital space. All our plans are directed towards becoming a dominant player of the digital ad market, when it becomes 10% of the total ad market.”

What makes Interactive Avenues stand apart from others in the same genre is its ability to help advertisers understand the true potential of the digital medium. “It feels really great when advertisers and publishers take pride in our work,” adds Hegde. Well, now you know that there is a thinking agency that aims to help advertisers meet their ‘Business Objectives’ using digital media.

Neha Saraiya

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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Getting ready for a brand blitz? Wait...

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Typically, the bigger the brand, the more the chances of it being picked up by counterfeiters to copy, fake and sell. From shampoo, batteries, auto components, clothes to DVDs-CDs, prescription drugs and electrical equipments, every product in every industry is vulnerable. Abanti Sankaranarayanan, Executive Director and Deputy CEO of Mount Everest Mineral Water Limited (another bottled water brand facing the onslaught of smart fabricators) explains, “The counterfeit market is impacting not only companies and their consumer base but also affects the country’s growth.” Incidentally, the government is losing over Rs.9 billion every year, due to sales tax accruals from such unauthentic products.

Market watchers confirm that highly popular and advertised brands are the most likely victims of counterfeiting or piracy, targeted because of their demand and the ‘aspirational’ tag attached to them. The FMCG sector is reportedly losing Rs. 80 billion every year due to counterfeiting, where as SIAM estimates the size of the counterfeit auto parts industry at between Rs.44-63 billion. Says Zaheer Khan, Chairman, EIPR: “Companies spend huge amounts on advertising to increase market share by 1-2%. Anyone losing 10-20% share due to counterfeiting is a huge revenue loss.” Adds Aakash Taneja, Executive Director, Institute of Intellectual Property, FICCI, “Estimates suggest that Bollywood alone suffers losses to the tune of Rs.30 billion every year with films alone suffering Rs.20 billion annually to piracy.” The black market for pirated software in India stands at a whopping $1.275 billion. You do the math!

On their part, more often than not, companies turn a blind eye. After all, imitation is the best form of flattery, right? And if only 2-3% counterfeiting of your brand is there, you wouldn’t bother. But Khan says that it’s important to have checks and balances. “Counterfeits can never stop, but can be brought down to manageable limits. Limits can be defined by brand-owners only,” he says.

Vedavalli Rangan, Industry Manager, ICT Practice, Technical Insights, Frost & Sullivan adds that while in the short run, imitation may seem the best form of flattery (seemingly enhancing brand awareness), “in the long run, the company loses out on its brand image.” The impact is felt largely in rural parts of the country, as illiteracy and low-awareness makes identification of brands synonymous with their packaging. The task of the fake manufacturers becomes explicitly easier in such cases, as they retain similar packaging with minor name modifications - a la Bonds for Ponds, Flair and Lovely for Fair & Lovely, Abibas for Adidas, et al.

The government, investigation agencies and IPR enforcers are making best efforts to track and tackle the menace, but in a country boasting a huge and diverse market, not to mention a less-than-stellar record of coordination among enforcement agencies, the counterfeit industry is flourishing and how. Entrepreneurs like Komla and Das are being born every day. And while the trendy marketer can hardly afford to shun advertising, the only solution in sight appears to be further strengthening brand awareness, reach and penetration, so consumers are not taken in by ‘Demin’ instead of Denim!

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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The primary market is in a deep slumber

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The primary market is in a deep slumber. Even the renewed indications of a global meltdown have just started creeping in. So the simplest thing for the companies planning to dive into the capital markets now is to wait and watch, feels Gyanendra Kashyap...

Samat is literally terrified at the mere mention of an IPO (Initial Public Offering); and why not, his euphoric success in terms of gains from IPOs has dampened like never before. Little did he realise the strong correlation between the primary and secondary market – as the secondary market tanks the primary market goes in for a long slumber. Like anyone else he too was taken in by the fact that the 2007 success story of IPOs (wherein 3 out of every 10 gave returns of more than 100%, 3 eroded the shareholders wealth and the remaining gave returns much higher than the benchmark index) will continue in 2008. To add to the greed of Samat and his ilk, the January sell out of the largest IPO, Reliance Power, which sucked Rs.100 billion out of the market within minutes, laid a solid foundation for bullish expectation from the market in the future to come. But unfortunately, the bullishness started and ended there. What happened to Emaar MGF and Wockhardt’s fund raising plans thereafter is well known. Well, the secondary market which was at its meteoric heights early on in the year has so far tanked over 30% and moving parallel the primary market offerings have also witnessed a sharp decline (35 in first 7 months of 2008 as compared to 65 for the same period in 2007).

Meanwhile, one can see a few gladiators marching ahead to reverse the situation. But, the question remains, will the forthcoming big IPOs be able to woo institutional as well as retail investors and help the market get going? Samat who has burnt his fingers avers, “Capital markets and investor sentiments determine the success of an IPO; as compared to last year the public markets today are not so receptive to IPOs.” Sounds logical indeed!

The non receptiveness of the market was very much evident during the Emaar MGF IPO process, wherein despite two rounds of price cut and a deadline extension it failed to attract investors and finally had to withdraw the IPO from the market. A very similar story holds true for Wockhardt. Both the companies moved out of the market citing the adverse market conditions. The fact that IPOs just do not happen in a free fall corrective market is reflected by the retardation in the number of listings (75, 96, 112 and now 35 respectively in 2005, 2006, 2007 and 2008 year to date).

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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The banking revolution begins now!

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But issues like security & inter-operability need to be addressed first

Banking is all set to don a new face with mobile convergence...
Navin Thangiah, Director, Market Development,mChek


The mobile phone has revolutionised the way we interact with each other; everyone and everything is just a phone call or an SMS away. Consumers are now demanding the same convenience and instant access in other aspects of life; ‘anywhere, anytime’ has become the norm. Businesses have realised this trend and are exploring ways to satisfy this demand.

The mobile phone is today our personal ‘smart’ device and our mobile number has become our primary identity. One of the first applications of this is in the field of ‘identity management’; use of the mobile phone as a personal authentication and authorisation device. This is at the core of most mobile wallets, a mobile application residing on the consumers mobile and accessible only with a PIN that is created by the user on his phone and hence known only to the consumer. A financial and transactional layer is then built on top of this platform. The transactional layer comprises of various financial instruments like a credit card, debit card, bank account that the consumer can ‘add’ to his mobile application and use as the source of funds for transactions. The transactional layer enables the application to interact with a common payment network that allows the money to be sent to the biller’s account.

While the concept is simple there are many practical issues like security, inter-operability and simplicity that need to be addressed before choosing the right solution. In fact, mChek solution is now focusing on building a simple secure platform that can work across banks and operators without influencing their existing relationship with their respective consumers.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.
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