Read on to discover why Bissell views retailing
as an election, and many more such retailing gems, marketing mantras and
brand-building strategies, while also discovering the personal passions, values
and philosophies of the man who is responsible for reviving many artisanal
clusters and lending Indian crafts a lingering identity and a lifestyle
branding for mass consumption.
Here are 10 such milestones, insights, and
learnings from the wheel of Fabindia’s evolution and Bissell’s brand-building
book:
Sowing the seeds of a cultural renaissance
through clothing
During the 1980s, the reigning idiom in India had been to be
in awe of Western trends, with the domestic market offering “replicas” of
Western brands and a sense of pride to the fashion-forward consumers. However,
during the same time, a young William Bissell—today the Managing Director of
Fabindia—took a trip to Bhutan to make a happy discovery. The locals sported
distinctive traditional dresses across the Himalayan kingdom: Men wore Gho
(similar to the Chuba or long robe worn by Tibetan people) while the women wore
Kira. This sowed the seeds of a clothing renaissance woven through culture in
the mind of Bissell, who sensed an opportunity back home in India.
“There is (was) an opportunity here to build
brands connected to culture, brands which have a strong affinity to culture,
and rather than trying to sell blue jeans—which is fine, jeans are now the
global language of clothing—why don't we focus on specific clothing from the
different regions of the country?” said William Bissell, sharing an anecdote in
the fourth episode of the ET Circle multimedia series.
As Kejriwal reminisced about his nostalgia for
traditional Indian clothing, drawing from personal experiences at a boarding
school, Bissell explained the cultural significance of modern Indians wearing
traditional clothing. India of today has come a long way from the India of the
’80s and the ’90s. “India is soon going to be the third largest economy in the
world, there is a lot of pride in the achievements of what Indians have
achieved in the international arena and domestically,” said Bissell. India's
economic growth and the success of its people worldwide have instilled a
profound sense of pride. “Wearing a brand that resonates with your lifestyle in
your culture affirms identity…it says that we are secure about our identity,
we're secure about who we are, and we want the world to know it,” explained
Bissell.
Affirming
pride and identity through a culturally resonant brand
The brand was initially met with slow acceptance,
a phenomenon which various fashion commentators have attributed to Fabindia’s
non-ornate offering of traditional clothing, woven in the language of regional
craftsmanship—reviving the lost and vanishing rich artisanal techniques,
traditions, and talents, and their intersections with local cultures. Another
trait that distinguished Fabindia in its formative years was its offering of
traditional clothing in an everyday idiom of functionality, aesthetics, and
style, operating in its niche away from the bling of the booming bridal market,
which in India is synonymous with traditional wear or loosely termed as Indian
couture.
The
journey of selling bandhgalas, not blue jeans
Soon, younger generations started embracing
traditional clothing, integrating it seamlessly into everyday wear signalling a
heartening shift. As Bissell said, “...acceptances were a little bit
slow…(Indian) women of a certain age group would always saris and salwar kameezes but what was nice was when younger people started
adopting Indian traditional clothes”, citing the example of bandhgalas, for instance, which gradually came to be accepted as formal
wear with today nobody even questioning its validity.
Broadly, this shift signalled a return to roots
for many who missed representing their regional crafts and artisanal traditions
but wanted culture to be served in a wearable format, without any of the
over-the-top bridal bling or outdated silhouettes that would no longer sync
with contemporary classrooms and modern workplaces. Thus, the growth and
evolution of Fabindia is in some sense an evolution of the Indian taste and
palette, branding India’s artisanal crafts for mass retail. Bissell elaborated
on the appeal of wearing a culturally resonant brand, explaining the act as
symbolising pride and showcasing new India’s confidence and desire to share it
with the world.
Branding
as mental real estate
“To me, the fundamental truth of a brand is it is
real estate in the mind. You know, we're all familiar with real estate, like an
apartment, a house, or a plot. There is a plot in your mind, imagine that the
mind has plots with many things in it, family brands, and other things, but
this is real estate in the mind. Now, when you look at the world today, some
brands are ultimately a way of communicating. The reason they have real estate
in their mind is because a brand signifies something,” said Bissell.
Elaborating on his brand-building book, Bissell
deconstructed essentially four types of brands. He elaborated on the types:
brands focused on price arbitrage, those capitalising on trends (with short
lifespans), lifestyle brands deeply rooted in identity and culture (like North
Face for environmentalists), and heritage luxury brands serving as status
symbols (fulfils a deep need for status and recognition. A luxury brand
signifies that the buyer is wealthy enough to afford it. It sort of announces:
I have arrived, I am an important person, I'm a person of consequence.)
Crafting
Fabindia into an Indian lifestyle retail trailblazer
Bissell placed Fabindia within the category of
lifestyle brands, drawing parallels between its essence and cultural history.
He emphasised how lifestyle brands resonate with a person's inner philosophy,
citing examples like Marks and Spencer representing Englishness. Communication
is central to a brand; what does it communicate to its target audience? In
Bissell’s words, “My first question is what is it communicate to me? Does it
communicate the cheapest deal? Does it communicate just a momentary trend? Does
it speak to something deeper in terms of identity culture? How do people want
to feel a sense of belonging? Or is it about luxury and saying that, you know,
I'm part of an elite that wears and uses this brand? So, you know, it's
interesting that these four divisions have stood the test of time when you look
at brands.”
In essence, Bissell identified four divisions:
whether the brand offers the cheapest deal, follows trends, reflects identity
and culture, or denotes luxury and exclusivity, highlighting how these
categories endure in the world of branding. A brand speaks to its target market
in any of these four broad divisions depending on its core messaging.
History,
heritage, and culture, how Fabindia is rooted in the Indian identity
“When you look at the history of India’s freedom
struggle, Gandhiji (Mahatma Gandhi) gave a call for the elite to stop
wearing clothes made in England and instead start wearing homespun fabrics made
in the villages of India that provided employment and preserved tradition and
culture. It was a powerful symbol… My mother was alive at that time, and she
had witnessed this (the Swadeshi movement). She was a young girl at that time
and she saw how men left their suits and started wearing kurtas and pajamas, wearing
them to their legal offices…for them, it symbolised something so
rooted.”
Bissell's upbringing was unique due to his
family's history, with his mother's side arriving in India as refugees in 1947,
while his father was from the US and deeply engaged in Gandhian ideology. His
parents' association with influential figures post-independence exposed him to
many Indias, and he was intrigued by India's diversity and “sheer breadth.”
While his parents made Delhi their home, a young William persevered in his
pursuit of constant travelling and learning. Indeed, constant traveling exposed
him to various parts of India, even remote rural areas. This, in turn,
instilled a sense of deep appreciation for the preservation of “micro
traditions” that are “unique to different regions and that had been preserved.”
Thus, the Managing Director of Fabindia grew up with a respect for India’s
diverse cultural and artisanal practices, while marvelling at their continuity
over time.
Tracing the roots of his family history
intersecting with the Indian freedom struggle the philosophy and ethos of which
lingered in the heart of an independent India thereafter, Bissell shared that
brands are rooted in things that are very important to a particular culture.
Referring to Gandhi’s act as a powerful symbol,
Bissell also shared an example of an old American brand, LL Bean, rooted in the
American sense of freedom and individualism. He underscored that lifestyle
brands are deeply rooted in cultural elements recognised by those who've grown
up within that cultural context.
The
paradox of homogenous diversity and decision-making dynamics
Fabindia encompasses 350,000 SKUs, which Kejriwal
described as remarkable in maintaining diversity and plurality within a single
umbrella brand. Typically, brands are often associated with a level of
uniformity across their offerings. However, Fabindia stands out by retaining
its unique identity while preserving both homogeneity and diversity.
Sharing his insights into navigating and
maintaining this balance between seemingly opposite elements, Bissell delved
into his theory of the “three-eye view”—short-term, medium-term, and long-term
focus—emphasising that customer preferences ultimately decide a brand's fate. He
likened retailing to a daily election where customers vote with their wallets,
stressing the brand's role in leading customers to indispensable offerings.
“Retailing is like an election, except it happens every day. Perfect. So you
come in with your wallet in your pocket, or you go online, and you look at
something and you say ‘I'm going to spend my money on that.’ That's a vote. And
it happens every day,” explained Bissell.
The
making of a pioneering brand
A piece of advice that entrepreneurs might do well
to understand is that the customer is someone who has demands of the brand, but
the customer is also someone that the brand can lead or direct. “I think
pioneering brands are those that are able to lead the customer in a way that
gives the customer things that they find later on indispensable in their
lives,” said Bissell.
Deep
moat monopoly
He further elaborated on his theory regarding
businesses, inspired by Peter Thiel’s perspective on successful enterprises
throughout history. Thiel once highlighted the significance of monopolies in
business success, yet acknowledged that a traditional monopoly isn’t in the
public’s best interest. This led Bissell to contemplate what he terms a “deep
moat monopoly”. Unlike a conventional monopoly where a single seller dominates
the market, deep moat monopolies thrive in highly competitive markets,
providing customers with numerous options. Bissell recalled an encounter where
someone exclusively chose a specific hotel chain (a product) due to their
exceptional personalised services aligned with their preferences. This hotel
chain even though located far away from the venue of business virtually
monopolised that person’s choice among numerous other options.
Bissell shared that he aspires for Fabindia to
become a deep moat monopoly by offering indispensable value, securing its
future success in a rapidly shifting market. “That’s what we would achieve if
we do our job right in the next five years…we will aspire to become a deep moat
monopoly, which operates in a hyper-competitive market but offers things that
would make us indispensable to our customers’ lives. And if we can do that, our
future will be well, for sure,” said Bissell.
Avoiding
the rule of generalisation
For Bissell, the foremost lesson has been the
avoidance of generalisation. Bissell referenced a recent report categorising
Gen X, Millennials, and Gen Z, attributing certain traits to each. However,
sweeping generalisations raise a red flag for Bissell. Not all individuals
within a certain demographic conform to these predefined traits. This habit of
broadly categorising deceives more than it enlightens, shared Bissell. “Not all
young people believe in ABC and don't believe in XYZ, it is this broad brushing,
that is a kind of mental shorthand, which deceives people all the time because
it's true that if you look at any situation, and you begin to generalise, the
first thing is you lost the plot,” cautioned Bissell.
Instead, the retailing genius stressed focusing on
the trait of attentive listening, especially now, amidst a “tectonic shift” in
consumer mindset—a paradigmatic change. During such paradigm shifts, old
business models fade away while new ones emerge. It's a natural process, albeit
with an exponential increase in business closures compared to the slower birth
rate of new ventures.
Studying historical shifts—be it in brands, ideas,
or business concepts—offers valuable insights. Bissell cited the example of
Sears Roebuck, a precursor to today's Amazon. A small shift prevented Sears
from evolving into what Amazon is today. Understanding these nuances is key to
grasping the dynamics of change.
The
vanishing value of integrity
Bissell shared that the most crucial value, often
overlooked in today's business landscape, is integrity. “It seems very
old-fashioned, but it is very important to have because I feel that when you
run an institution, people look to you for predictability, for reliability, for
integrity. You would want to be the kind of leader who has a central value
system…” said Biseell, emphasising that while integrity may seem outdated, it
remains pivotal. A leader's core value system should be as dependable as
clockwork.
Bissell lamented that unfortunately, modern
business often lacks this quality. In pursuit of convenience, everything is
being compromised. When business leadership doesn't prioritise integrity, it
forfeits its foundation. “I think one of the problems we see in the world of
business today is that quality is in short supply. And what is happening is
that everything is being sacrificed on the altar of expediency. And I think
that when the leadership of a business doesn't value, that essential quality of
integrity in the sense that you stand for something then just remember, you stand
for nothing…” Bissell shared.
Essential
lessons for contemporary entrepreneurs
Surely, Bissell’s branding and marketing mantras
could be a guiding light for somebody who's just starting to build a fashion
brand in India, a homemaker who's out to create her boutique apparel brand, or
a young individual who is excited to create a new market category in fashion.
Today's marketplace is saturated, according to
Bissell, making brand recall a challenge as our minds can only retain a limited
number of names. Brands vie for mental real estate, hence the significance of
strategic positioning. Bissell recalled an encounter with a group that
approached him with an intriguing concept, seeking to redefine the kulfi experience. “I asked them if you're going to reinvent
the kulfi, what are going to be the determinants of your new kulfi?
They put down three ideas, which I thought were brilliant, I don't want to give
their business plan away….” shared Bissell. While the innovative product
retained the original evergreen taste of a classic kulfi, it also combined the
three new attributes making it an innovative product, and Bissell is all for
that kind of segmentation which he believes is bound to find a stickiness in
someone's mind.
On the other hand, another instance involved a
brand fixated on fundraising rather than focusing on its product. Bissell
emphasised the danger of becoming more absorbed in securing funding rather than
in refining the core product. Thus, Bissell’s advice to any aspiring
entrepreneur is to focus on building true substance rather than ignoring the
product in chasing the byproduct.
Bissell cherishes craftsmanship and handmade items
outside of his business pursuits. He finds profound fulfillment in things
crafted with skill and traditional knowledge, attributing intrinsic value to
such products. He recently acquired a finely crafted wooden box from the Shaker
tradition in America, appreciating its purity of design and exquisite
craftsmanship devoid of ornamentation. He believes that items made by hand
possess an enduring value that machines can't replicate, emphasising the
timeless essence of such intrinsic value. In a circular continuity, Bissell’s
pursuits and professional wisdom are intrinsically woven through a respect for
the unique, the handmade, and the labour of love.