EVOK's ad spends to touch Rs 200 mn this fiscal

BENGALURU: Hindware Home Retail‘s home interiors fashion brand EVOK will be spending around Rs 200 million towards advertising and marketing spends this fiscal as told to by company officials.

The brand spends between five and 7.5 percent of its revenues towards advertising and marketing and an additional burst spend of around Rs.1.5 to two million with every new store launch inform the sources.

EVOK mainly uses print and outdoor as well as in-store branding for ATL activities for brand building, and promotional activities and roadshows for BTL. It is also looking at radio, since the brand has met with a fair bit of success with the medium with its Ludhiana and Gurgaon stores. EVOK has seven different creative agencies signed up and does its media buying through Lintas.

This financial year, EVOK plans to open 25 new stores to take its store count across India to 42. The brand is targeting to up its revenues from Rs.1.5 billion in 2012-13 to Rs.2.5 billion during the current fiscal. With the new stores launch, EVOK will add 200,000 square feet to its existing 150,000 square feet of retail space. The brand has two store formats - the mega store of about 10,000 to 13,000 square feet size and the super specialty store of about 2000 to 3000 square feet size.

EVOK estimates the home furniture business to be worth about Rs one trillion annually, of which organized retail has a five percent share that will grow to fifteen percent over the next five years. The brand says that it caters to the requirements of the value as well as the high net worth customer.

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