Accessories are an indispensable part of fashion. No matter how stylish and expensive one’s cloth may be, but the look is never complete without proper accessories to go with it. There was a time when accessories were considered more of a women thing, but of late the trend is changing. Now, men are also taking interest in accessories to look stylish. According to a study by Euromonitor International, US alone registered an increase in sales of men’s designer footwear by 39% during 2009-2014. Similarly, sales for luxury timepieces rose by 52% and that of men’s luxury bags rose by around 24-40% in the US. The scenario is similar in India too. To cater to the growing need of classy and stylish men’s accessories New Delhi based startup Escaro Royale has come up with a wide range of accessories for men.
Escaro Royale - Highlights
| Startup Name | Escaro Royale |
|---|---|
| Headquarter | New Delhi |
| Founder | Ambud Sharma |
| Sector | Men Accessories |
| Founded | 2016 |
| Parent Organization | Ligo Intertrade Pvt. Ltd |
About Escaro Royale
Escaro Royale Founder and CEO
How was Escaro Royale Started
Escaro Royale - Name and Logo
What is Escaro Royale
Escaro Royale - Revenue Model
Escaro Royale - Funding and Investors
Escaro Royale - User Acquisition
Escaro Royale - Startup Challenges
Escaro Royale - Competitors
Escaro Royale - Growth
Escaro Royale - FAQs
StartupTalky
About Escaro Royale
Escaro Royale Luxury, commonly called Escaro Royale is an extreme-luxury lifestyle brand started by fashion technologist Ambud Sharma. The brand’s product offerings are exclusively curated for high-end fashion lovers and consist of elegantly handcrafted shoes, exquisite premium bags, complementing belts and high street fashion accessories for men.
Escaro Royale is widely known for its stunning designs, artistic sense of craftsmanship, finest artisanship and impeccable service. Escaro Royale currently operates in the United States, India and Canada.
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Escaro Royale Founder and CEO
Ambud Sharma is the Founder & CEO of Escaro Royale. An engineering graduate by qualification, Ambud worked with reputed companies like Motorola Solutions, Metso and Comcast Cable. He is the founding partner of Ligo Group of companies which are associated with digital commerce, brand management, pharmaceuticals, education and exports domains. Escaro Royal is a brand registered under Ligo Intertrade Pvt. Ltd., a subsidiary of Ligo Group of Companies.
How was Escaro Royale Started
Escaro Royale started off as a curious experiment when escaro royale owner Ambud Sharma and team set out to understand how luxury brands behave in the new digital world. Conventionally luxury brands offer more of a brick-and-mortar experience through physical touch and feel of the product. Careful analysis of the 4Ps (Product, Price, Promotion and Place) and various other variables of digital luxury segment helped Ambud & team to unearth how luxury brands are perceived and managed. With all the excellent insights into consumer behavior and market dynamics, Ambud then set out to build India’s First Super-Premium Extreme-Luxury Brand for Men.
“Escaro Royale began data-based analysis of something as abstract as fashion. Sounds crazy right? It probably is, if you think about the number of business & artistic variables at play at the same time” Ambud says.
The team uses algorithms and big data to make informed business decisions like what to make, for whom to make, how to make and when to make. The company focuses on technology to create breakthrough product versions that are in sync with luxury market dynamism.
I talked about Escaro Royale and my digital-first launch plans with a few industry veterans & company owners. My mentor is a footwear industry veteran having worked in senior management capacity in top Indian companies. Pretty much everyone I talked to told me that it would be an uphill battle to sell high priced products directly to customers through our own website. But my gut feeling was that it was possible and we went ahead with it.
Escaro Royale - Name and Logo
"Escaro" as a word has two meanings. It’s a little town in France known for its handcrafted leather and wood products. Moreover, in Spanish, Es-Caro means "It is high class". Hence the word Escaro was chosen. Royale as a suffice was to give it a more luxurious angle. Escaro Royale thus would eventually mean "It is high class and luxurious".
The logo is actually ER backward (RE). The insignia denotes the unconventional path that Escaro Royale took to the customer in the men's luxury merchandise category.
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What is Escaro Royale
Escaro Royale’s main focus is to create luxury shoes which are 100% handcrafted and hand-painted. Besides Escaro shoes, they also deals in men’s accessories like belts, wallets and cufflinks.
Some USPs of Escaro Royale products are -
- Strong Product: The first and the most important differentiator for Escaro Royale is its merchandise, material selection and quality control. Escaro Royale products have superior design, craftsmanship and attention to detail. The luxury products are designed with the ultimate needs of the premium category of consumers in mind. Most products in the offering unique from those currently available in the market. Only the best materials, the finest curated designs and exceptional customer care are used.
- Customer Experience: Escaro Royale is built to be the most customer-centric luxury brand with a technological edge. Every function in the company is customer-centric and each team member, irrespective of designation, is required to have a customer-first mindset. The team believes that the brand’s product offering is incomplete without the combined experience that consists of every little detail – be the user experience (UX) of the website, the checkout experience, payment experience, grievance management, the after-sales service or the everlasting consumer connection. Each Escaro Royale product and purchase experience creates a unique consumer persona. Loosely speaking, these are the tiny details like color combinations, the trims, the packaging preferences and alike, that differentiates the luxury cognizance of one customer from another. The Escaro Royale team understands these little details to learn more about what the consumer wants.
- Luxurious Perception: Escaro Royale understands that there is more to luxury than just the premium pricing and a feeling of opulence. It is about connecting the consumer to the brand’s story, its reason to exist and its function in the fashion space. To achieve this Escaro Royale team takes various initiatives to connect to its customers so that the customers get a feel of why Escaro Royale exists and what gaps it has filled in the generally monotonous Men’s Luxury space.
“Through our conversations, we have succeeded in creating a thriving brand community. Escaro Royale is all about creating a perception-led community of fans that would, in turn, create larger and deeper patronage for Escaro Royale’s excellent products!” says Ambud.
The products are sold online. Besides, Escaro Royale also has an experience center in Rama Road, New Delhi, where customers can have first-hand look and feel of its product range.
Escaro Royale’s goal is to digitize abstract fashion to create a personalized and customizable luxury experience for its patrons. The company’s growth revolves around perception (how brands are created), persona (how brand value is computed in the minds of consumers), and projection (how the brand eventually manifests itself in front of the consumers through websites and stores).
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Escaro Royale - Revenue Model
Escaro Royale generates revenue by selling its products through its own website and other leading e-commerce sites. The selling price of products ranges from INR 7000-15000.
Escaro Royale - Funding and Investors
Escaro Royale has not raised any funding to date.
Escaro Royale - User Acquisition
Escaro Royale was soft-launched in September 2017. The company did quite a bit of social media branding right before its launch, which helped it acquire its first set of customers as soon as the brand was launched.
Besides, Social Media and Google Search Engine marketing are the company’s go-to channels for its growth hack strategies, as said by Ambud.
“We develop our own strategies in-house. Most of our strategies revolve around sequential-growth-hacking. It helps us getting iterative growth. We started with a very small budget of about 2 lac rupees. But we used most of it to create good content around the USPs of the brand. It helped us tell our story to our consumers” says Ambud.
Escaro Royale follows a content-based marketing strategy that includes lots of story-telling. This includes video content and value-oriented blogging.
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Escaro Royale - Startup Challenges
Finding the right talent was a major challenge while starting up Escaro Royale. Speaking about hiring Ambud says, “We made some hiring mistakes in the beginning but then we tightened our requirements. We don't hire in frenzy anymore. We ensure that we get the best candidate. If it means waiting, we wait”.
Escaro Royale - Competitors
Escaro Royale team looks up to Nike for its storytelling capability. It draws inspiration from the Italian brand named Berluti since it is a mother brand of all Hand Painted leather products.
To stand out in the steadily growing competition in the men’s accessories market, Escaro Royale always strives to offer a unique range of products. A lot of colors is used in the products to makes it stand apart. The company also pays special attention to user experience and ensure that the consumer keeps coming back due to the world class customer service.
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Escaro Royale - Growth
Escaro Royale is achieving 8x year on year growth. The company also claims to have 25% repeat customer rate. The company has gained popularity through its excellent range of products and has received coverage in all top magazines and newspapers of India.
Escaro Royale hopes to be in top 10 Indian luxury brands in next 3 years. It sees India as a huge market – given the wide and vast palette for luxury across tier 1 to tier 2 to tier 3 cities. The company is aspiring to create luxury hubs that will steadfastly cover all the cities in India, keeping the customer luxury sentiment – specific to the demographics and psychology in mind.
The company envisions to establish Escaro Royale as India’s First and Largest Extreme-Luxury Super-Premium Tech-Driven Brand for Men.
We are a consumer-focused company and our DNA is 100 percent driven by customer satisfaction. We have been approached by many "paid" awards companies as is very common today - but we don't believe in bogus awards. We will get our awards through our merit. And no company can be award-worthy in the first two years of operations in our opinion.
Website: Escaro Royale
Escaro Royale - FAQs
Who is the Founder of Escaro Royale?
Ambud Sharma is the CEO & Founder of Escaro Royale
What is Escaro Royale known for?
Escaro Royale is an extreme-luxury lifestyle brand that offers premium quality mens' accessories. It is widely known for its stunning designs, artistic sense of craftsmanship, finest artisanship and impeccable service
What is the Revenue Model of Escaro Royale?
Escaro Royale generates revenue by selling its products through its own website and other leading e-commerce sites. The selling price of products ranges from INR 7000-15000
Author: Chayanika Goswami
Source : https://startuptalky.com/escaro-royale-success-story/
Date : 2020-08-30T07:19:00.000Z