- Splash is a part of the largest fashion retailer conglomerate The Landmark Group.
- Splash has been awarded as ‘Powerbrand’ status for 2013 and has won the Most Admired Retailer award.
The Landmark Group, the largest retail conglomerate in the Middle East, is cutting down the number of outlets of its fast-fashion brand Splash in India.
What is Splash
Splash is a part of the largest fashion retailer conglomerate The Landmark Group, headed by Micky Jagtiani. Headquartered in Dubai with over 150 stores and 50 brand stores(Lee Cooper, Bossini, ELLE, and Being Human) across 14 countries including India, the United Arab Emirates, and Saudi Arabia. Splash also hosts events like the bi-annual fashion shows and launch annual Calendar. Splash competes with fashion brands like H&M and Tata Trent, over a wide range of product.
source:- splash.com
Reason of Closure
Senior industry executive of Landmark Group stated “Splash never really took off in India because of its expensive pricing. In that space, it had to compete with several established brands. Currently, affordable fashion brands are doing well for most retailers as a large majority of Indian consumers are following global fashion trends but are unable to spend big at the store. That’s the reason Landmark has turned its attention on brands such as EasyBuy, Max, and Lifestyle, which has a cheaper price tag.”
Splash has been awarded as ‘Powerbrand’ status for 2013 and has won the Most Admired Retailer award. Splash has currently 18 stores operational in India, from Delhi to Bangalore. With the cutting down of numbers of outlets, it will cause great loss of employment, but as quoted by Vasanth Kumar, MD- Lifestyle International Vasanth Kumar, “For strategic reasons, Landmark Group has decided to focus on its power retail brands such as Lifestyle, Max, Home Centre. In view of the power brands focus, we have decided to restrict Splash operations to specific regions and online channel only but employees have been absorbed in other Landmark Group companies”.
Problems faced by the Fashion Industry
Similarly, many big brands are also focusing on opening hundreds of stores that will sell at an extremely affordable price. With the drop of 13% in FY19 profit in India, Spanish fashion brand fashion retailer Zara is also focusing on the affordable price in partnership with Trent Ltd. Same in the case of Cover Story and many more in the fashion retail brand understand the need of the Indian market and expected to come with a premium product at cheap price.
With the tagline In love with fashion, famous fashion retailer Splash doesn’t get much love from the people of India.
