IIP Final Project - Chirag Bhujbal
IIP Final Project - Chirag Bhujbal
IIP Final Project - Chirag Bhujbal
Submitted by
Name of the Faculty Guide: Prof. Sanjit Gujral Name of the Student: Chirag Niteen Bhujbal
Name of the Company Guide: Mr. Amogh Kate Roll No: 02120022356
Program: PGDM
Stream: Marketing M-3
1
ACKNOWLEDGEMENT
Execution of a project of this nature is impossible without active support from the Company
Guide and Faculty Guide. I would like to express my sincere gratitude to my company guide
Mr. Amogh Kate and faculty guide Prof. Sanjit Gujral for their guidance during the entire
I also extend my sincere thanks to all those who directly and indirectly helped me to complete
Date: 09/09/2023
2
INDUSTRY INTERNSHIP PROJECT FINAL REPORT
INDEX
Annexures
Annexure 1 Record of appreciation (if any) N/A
3
Annexure 2 Company Feedback N/A
Annexure 3 Questionnaire N/A
Annexure 4 References / Bibliography / Other materials 27
4
5
Executive Summary
Firstly, I played a pivotal role in fostering strategic alliances with prominent industry players/
Like-minded brands/ Financial institutes which significantly enhanced Truefitt & Hill's brand
visibility and reach. These partnerships opened doors to new opportunities for collaboration
and mutual growth.
In the realm of Brand Marketing, I actively supported the conceptualization and execution of
innovative marketing campaigns. These campaigns not only elevated Truefitt & Hill's brand
positioning but also increased recognition among the target audience.
Furthermore, I played an essential role in shaping compelling brand narratives and ensuring
consistent messaging across all communication channels. This helped reinforce the brand's
identity and resonance in the minds of consumers.
In the digital domain, I assisted in crafting engaging social media content, which played a
crucial role in enhancing brand awareness and driving audience engagement. Additionally, I
supported the execution of targeted email campaigns that nurtured leads and fostered
customer retention.
To reach the target audience effectively, I also contributed to the implementation of SMS
marketing strategies, allowing us to connect with customers in a more personalized and
efficient manner.
Lastly, I collaborated with influencers to promote Truefitt & Hill Services, leveraging their
reach and credibility to resonate with the target demographic effectively. This initiative not
only expanded the brand's reach but also enhanced its credibility and trustworthiness among
consumers.
6
Chapter 1
Overview of the sector
Lloyds Luxuries Ltd operates within the luxury grooming sector. The luxury grooming sector
in India is experiencing a remarkable transformation, driven by changing consumer lifestyles,
rising disposable incomes, and an increased emphasis on personal care and well-being. The
Indian male grooming market has grown at a rapid pace from the level of $643 million in 2018
to $2 billion in 2022 and is expected to grow to about $ 3.5 billion by the end of this decade.
In fact, this segment is flourishing at a phenomenal pace globally with the present market
size hovering around $ 57 billion. As a result, India has emerged as one of the fastest-growing
markets for luxury grooming products and services in recent years.
Market Definition:
The luxury grooming sector in India encompasses a wide range of products and services
tailored to enhance personal appearance, hygiene, and overall grooming experiences. This
sector includes premium skincare products, high-end fragrances, luxury haircare, spa and
wellness services, premium cosmetics, and grooming tools designed to cater to the
discerning preferences of consumers seeking quality and sophistication in their personal care
routines.
Key Characteristics:
• Rapid Urbanization: The urban population in India is on the rise, leading to increased
demand for grooming products and services, particularly in cities and metropolitan
areas.
In conclusion, the luxury grooming sector in India is poised for significant growth, driven by
changing consumer preferences and increasing affluence. Understanding the unique
dynamics of this market and aligning with evolving trends can position brands for success in
India's burgeoning luxury grooming industry.
• Natural and Ayurvedic Products: The demand for natural and Ayurvedic grooming
products was on the rise. Indian consumers were increasingly looking for products that
are not only luxurious but also aligned with their preferences for clean, organic, and
sustainable ingredients.
7
• Customization and Personalization: Luxury grooming brands were focusing on
offering personalized solutions. Whether it's personalized skincare routines,
fragrances, or grooming kits tailored to individual preferences, customization was
becoming a key selling point.
• Wellness Integration: Luxury grooming brands were integrating wellness into their
product offerings. This included products infused with wellness-oriented ingredients,
such as CBD or adaptogens, and partnerships with wellness experts to provide holistic
grooming experiences.
• Digital Engagement and Social Media: Luxury grooming brands were investing
heavily in digital marketing and social media engagement. Influencer collaborations,
online tutorials, and virtual try-on experiences were becoming common to connect with
tech-savvy consumers.
Strengths:
• Cultural Embrace of Grooming: Indian culture has a strong tradition of grooming and
self-care practices, making it a fertile ground for luxury grooming brands to flourish.
8
• Innovation Potential: The sector has room for innovation in product formulations,
packaging, and services, allowing brands to differentiate themselves and cater to
evolving consumer preferences.
• Global Luxury Brands: India attracts global luxury grooming brands, allowing
consumers access to a wide range of internationally acclaimed products.
Weaknesses:
• Competition: The luxury grooming sector in India is highly competitive, with numerous
brands vying for market share. New entrants may struggle to establish themselves in
this crowded market.
Opportunities:
• Growing Men's Grooming Market: The men's grooming segment is witnessing rapid
growth as more Indian men prioritize personal grooming. Brands can tap into this
expanding market.
• Wellness Integration: Integrating wellness into grooming products and services aligns
with the growing demand for holistic well-being, opening up new avenues for
innovation.
Threats:
9
• Changing Consumer Preferences: Evolving consumer preferences, such as a shift
towards minimalist or natural products, pose challenges for brands that rely heavily on
traditional luxury offerings.
• Supply Chain Disruptions: Global events like pandemics can disrupt the supply chain,
affecting the availability of luxury grooming products and services.
Yet relatively there’s no direct competition for Truefitt & Hill as it is the only brand currently in
India which has over 150+ Men’s Grooming products for each skin type to scalp type.
PESTEL analysis for Lloyds Luxuries Ltd (Truefitt & Hill) in the context of its competition in
India. This analysis considers the political, economic, sociocultural, technological,
environmental, and legal factors that may impact the company's operations and competitive
position.
Political:
Economic:
10
• Economic Growth: The overall economic growth and stability in India can impact
consumer spending on luxury grooming products.
• Income Levels: The rising middle class and increasing disposable incomes in India
present opportunities for luxury grooming brands.
• Currency Fluctuations: Exchange rate fluctuations can affect the cost of imported
ingredients and materials, potentially impacting pricing strategies.
Sociocultural:
Technological:
Environmental:
Legal:
• Regulatory Compliance: Truefitt & Hill must comply with Indian regulations governing
product safety labelling, and import/export.
• Intellectual Property: Protecting intellectual property, including trademarks and
patents, is essential to prevent counterfeiting and protect brand reputation.
• Consumer Protection: Laws related to consumer rights and product quality must be
followed to maintain customer trust and loyalty.
11
Chapter 2
Overview of the company
Established in 2013, Lloyds Luxuries Ltd has exclusive distribution / Franchise rights for
Luxury Grooming Brands in India. They have successfully acquired the Master Franchise
License for Truefitt & Hill - the Oldest Barbershop in the World. For over two centuries Truefitt
& Hill recognised as the finest traditional gentlemen's barber and perfumer in London has
provided discerning gentlemen with only the finest in grooming products and services. Lloyds
Luxuries has control of franchising activities of Truefitt & Hill in the following countries: India,
Nepal, Sri Lanka, Bhutan, Vietnam, Myanmar, and Bangladesh.
Also, Lloyds Luxuries is the master franchisee for Mary Cohr – French beauty salon in India
started in 2019.
Lloyds Luxuries is a part of Lloyds group, owned by Mukesh Gupta. And Lloyds Luxuries is
owned by Shree Krishna Gupta.
Mission: Opening 50 doors (Truefitt & Hill - Barbershops) in next 5 years in India, Nepal, Sri
Lanka, Bhutan, Vietnam, Myanmar, and Bangladesh.
Values:
• Quality: Lloyds Luxuries is synonymous with premium luxury products and services.
Quality lies at the core of Lloyds Luxuries offerings, demonstrating an unwavering
commitment to delivering the highest standards of excellence to our discerning
customers.
• Innovation: While deeply rooted in the legacy of luxury, Lloyds Luxuries also embraces
innovation. We continuously seek to refine and modernize our products and services,
ensuring they remain at the forefront of contemporary luxury while preserving our
timeless traditions.
12
refined design of our products, the allure of our packaging, and the overall aesthetic
of our luxury experiences.
Shree Krishna
Mukesh Gupta
(OWNER)
As Lloyds Luxuries is the master franchise of Truefitt & Hill India, here are the
products/services offered by Truefitt & Hill.
• Traditional Hot Towel Wet Shave: Truefitt & Hill is renowned for its classic barbershop
experience, including a traditional hot towel wet shave using premium shaving
products and techniques.
• Haircut and Styling: The brand provides professional haircuts and styling services to
help clients achieve their desired look.
• Facials and Skin Treatments: Truefitt & Hill offers a range of facials and skin
treatments designed to rejuvenate and nourish the skin, including anti-aging
treatments and facial massages.
• Head Massages: Relaxing head massages are available, providing clients with a
soothing experience.
• Beard Grooming: For those with beards, Truefitt & Hill offers beard grooming services,
including trimming, shaping, and maintenance.
• Manicure & Pedicure: Relaxing manicure & pedicure services for men.
13
Grooming Products for Men:
• Shaving Products: Truefitt & Hill's line of shaving products includes shaving creams,
shaving soaps, pre-shave oils, and aftershave balms. These are formulated to provide
a smooth and comfortable shaving experience.
• Fragrances: The brand offers a range of exquisite fragrances for men, including
colognes and aftershaves.
• Haircare: Truefitt & Hill provides high-quality haircare products, including shampoos,
conditioners, and styling products.
• Beard and Moustache Care: Truefitt & Hill offers specialized products for beard and
moustache care, including beard oils, waxes, and grooming kits.
• Accessories: The brand offers grooming accessories like razors, shaving brushes,
combs, and grooming kits for a complete grooming experience.
• Gift Sets: Truefitt & Hill provides a selection of gift sets and grooming kits suitable for
special occasions and as thoughtful gifts.
• Travel Size Products: Travel-friendly versions of their grooming products are available
for those on the go.
Also, the another arm of Lloyds Luxuries is Mary Cohr- A French beauty salon that offers,
Product Categories:
• Cleansers and Makeup Removers: These products are designed to effectively cleanse
the skin and remove makeup, impurities, and pollutants.
• Moisturizers: Mary Cohr offers a range of moisturizers tailored to different skin types,
including dry, oily, combination, and sensitive skin. These products help hydrate and
nourish the skin.
• Serums and Treatments: Mary Cohr's serums and treatment products target specific
skincare concerns such as aging, pigmentation, and acne. These products often
contain concentrated active ingredients.
• Sun Protection: Sunscreen and sunblock products to protect the skin from harmful UV
rays and prevent sun damage.
• Eye Care: Eye creams and treatments formulated to address concerns like dark
circles, puffiness, and fine lines around the eyes.
14
• Masks and Exfoliants: Mary Cohr offers a variety of masks and exfoliating products to
help rejuvenate and clarify the skin.
• Body Care: In addition to facial skincare, Mary Cohr may offer body care products
such as body creams, scrubs, and treatments to address various body skin concerns.
Services:
• Professional Skincare Treatments: Mary Cohr is known for its professional spa and
salon treatments. These treatments are typically performed by trained estheticians and
may include facials, peels, and specialized treatments tailored to individual skin needs.
• Product Application and Education: Mary Cohr professionals often provide guidance
on how to use their products effectively to achieve the best results. They may offer
product demonstrations and application techniques.
• Skin Analysis: Some Mary Cohr locations may offer advanced skin analysis services
using tools like skin scanners to assess skin conditions and recommend suitable
treatments and products.
• Strong Brand Identity: Lloyds Luxuries Ltd may have established a strong and
recognizable brand identity within the luxury market, which can attract affluent
customers and build brand loyalty.
• Innovation and Adaptability: The ability to innovate and adapt to changing market
trends and consumer preferences can set the company apart in the dynamic luxury
industry.
• Customer Loyalty: A loyal customer base that appreciates luxury products and
services can provide a stable source of revenue and positive word-of-mouth
marketing.
Weaknesses:
15
• Price Sensitivity: The luxury market can be sensitive to economic downturns and
fluctuations in consumer spending, potentially impacting sales.
• Competition: The luxury sector is highly competitive, with numerous established and
emerging brands vying for market share. Maintaining a competitive edge can be
challenging.
• Supply Chain Disruptions: Any disruptions in the supply chain, such as sourcing
premium materials or production delays, can affect product availability and customer
satisfaction.
Opportunities:
• Market Expansion: Exploring new markets, both domestically and internationally, can
provide growth opportunities for the company, especially in emerging economies with
a rising middle class.
• Digital Presence: Expanding and enhancing the company's digital presence through
e-commerce and digital marketing can tap into the growing trend of online luxury
shopping.
Threats:
• Global Events: Events like pandemics, natural disasters, or geopolitical tensions can
disrupt the supply chain, distribution, and demand for luxury products.
16
Chapter 3
Project assigned and execution
The primary objective of my Brand Marketing internship project at Lloyds Luxuries, focusing
on Truefitt & Hill, was to enhance the brand's market presence and achieve sustained growth
by implementing a comprehensive marketing strategy. This involved various key initiatives,
each contributing to the overall objective:
• Strategic Alliances
• CRM Enhancement
• Brand Marketing Excellence
• Brand Consistency
• Social Media Engagement
• Email Campaign Effectiveness
• SMS Marketing Efficiency
• Influencer Collaboration
Marketing campaigns:
• Task: The task given to me was to plan, monitor & execute marketing campaigns.
• Execution: The task execution started with learning from the previous marketing
campaigns, strategies used, the end result of the campaigns, and the overall
planning.
Major data was obtained by Shopify backend, and the strategic data was taken from
the marketing team.
From the previous campaign, I could easily recognize the lack in planning &
execution of campaigns. End result from these campaigns were poor sales, less
brand visibility and recognition.
So, moving further the first campaign that I was involved into was Travel collection
17
campaign – the goal for this campaign was more brand visibility and, an increase in
travel series product sales.
❖ Father’s Day campaign: This campaign was to promote customizable gift sets,
increase sales of the gift sets and promote the shaving legacy that is
transferred from one generation to another, where Truefitt & Hill is a pioneer
of Men’s Grooming since 1805.
Also, from this campaign, we started doing PR (articles/listicles/Media
features.) so this took the campaign promotion in a 360-degree promotion.
• Execution: On a daily basis I used to reach out to like-minded and similar type of
brands, also banks via LinkedIn.
18
After the conversation the brand turned out to be fruitful, a formal mail for strategic
alliance/partnership was sent.
Moving forward as the synergies matched we used roll out a offer construct which
benefited both the partner brands.
Branding
• Task: The task given to me was to do branding of new stores and keep track of all
the PAN India stores for any branding-related queries/concerns
• Execution: So for the new store launched the store branding was done by me under
the guidance of my manager.
For keeping track of all store branding we used to follow a process where the store
would mail us for any queries/concerns for the branding part, then it was taken
forward by me a the issue was solved then and there with the help of local vendor
who are working with us.
Digital Marketing
• Execution: The communication made was uniformed with the sync of what we used
to do for offline marketing. The I made sure that the copy of all the digital marketing
campaigns should be in sync with offline marketing.
19
• Result: Increase in Brand recognition, helped in re-marketing campaigns, more
specific target audience was engaging with the content which was more effective in
completing the sale loop.
Influencer Marketing
• Task: The task given to me was to increase influencer content for Truefitt & Hill.
• Result: Increased reach/ engagement/ followers. From April till August increase of
10K followers was seen and 75% was due to UGC influencer content.
• Task: The task given to me was to learn and improve Truefitt & Hill’s e-commerce
presence.
• Execution: So, starting with e-commerce I learned the overall e-commerce marketing
and how it works.
Starting with Amazon we ran Sponsored product/brand/display ads with automatic
targeting and it increase the brand’s visibility in luxury grooming products for men’s
pages. Moving forward we tried with manual targeting with specific target audience
(demographics – 21-60 yrs old males with high spending value on ecom portals) this
data was extracted from various ecom portals where we are listed.
Similarly on other portal there are different marketing option yet Amazon ads is the
best working platform for Truefitt & Hill as it contributes to 25% sale in monthly E-
commerce sales.
Digital Footprint.
• Task: The task given to me was to create content for Truefitt & Hill.
• Execution: A major part of digital footprint of Truefitt & Hill is website which has
500000 monthly visitors. And there were major content duplication in the website. So
solved that issue and posted blogs for SEO of the website.
20
Chapter 4
Implication, summary and conclusion of the project
4.1 Benefits:
a) Company
• Increased Brand Recognition: The curation of engaging social media content and
collaboration with influencers contributed to a higher level of brand recognition,
particularly among the target demographic.
• Effective Targeting: With the execution of targeted email and SMS marketing
campaigns, I helped the company reach the right audience at the right time,
nurturing leads and retaining existing customers.
• Overall Growth: Collectively, these efforts contributed to the overall growth and
success of Truefitt & Hill, driving increased sales, brand loyalty, and market
presence.
b) Institution
21
• Increased Career Placement Opportunities: My practical experience at a
renowned brand like Truefitt & Hill can improve the employability of my institution's
graduates, potentially attracting more students to the program.
• Research and Case Study Material: The insights and data I gathered during my
internship can be used as valuable material for research and case studies within my
institution, contributing to the academic knowledge in the field of marketing.
c) Society
22
• Invest in CRM Technology: Consider investing in advanced customer relationship
management (CRM) technology to streamline customer engagement efforts further.
Implement automated processes for personalized interactions and feedback
collection.
• Measure and Analyze Results: Continue to use data and analytics to measure the
effectiveness of marketing initiatives. Regularly analyze key performance indicators
(KPIs) to identify areas for improvement and make data-driven decisions.
23
• Data Management: Managing and maintaining customer relationship management
(CRM) systems involved handling large sets of data. Ensuring data accuracy,
privacy, and security was a significant challenge, especially with evolving data
protection regulations.
• Competitive Market: The grooming and personal care industry is highly competitive.
Standing out and gaining a competitive edge in such a crowded market required
innovative thinking and constant adaptation to market trends.
• Content Creation: Creating engaging social media content that resonates with the
target audience was a creative challenge. Finding the right tone, style, and content to
capture the audience's attention required experimentation and analysis.
24
Chapter 5
Takeaways / Learnings
a) Professional
Strategic Partnership Skills: My ability to foster strategic alliances with key industry
players showcased my talent for building valuable partnerships, a skill that is essential in
marketing and business development.
Brand Messaging Consistency: I took pride in crafting compelling brand narratives and
ensuring consistent messaging across channels, reflecting my attention to detail and ability
to maintain brand integrity.
Social Media Expertise: My role in creating engaging social media content showcased my
skills in harnessing the power of digital platforms to drive brand awareness and audience
engagement, a crucial skill in today's marketing landscape.
Email and SMS Marketing Proficiency: My proficiency in executing targeted email and
SMS campaigns demonstrated my ability to use these direct marketing channels effectively,
nurturing leads and retaining customers.
Contribution to Business Growth: My overall role in amplifying Truefitt & Hill's brand
presence and contributing to the company's growth signifies my capacity to deliver tangible
results that positively impact a business.
25
b) Personal
Digital Marketing Channel Expertise: Managing social media, email, and SMS marketing
revealed the power of digital channels in reaching and engaging with the target audience.
Understanding the nuances of each channel is essential for effective communication.
Analytical Skills: Monitoring the success of marketing campaigns through data analysis
improved my analytical skills. Making data-driven decisions is crucial for optimizing
marketing strategies.
Professional Growth: Overall, this internship was a tremendous opportunity for personal
and professional growth. It solidified my passion for marketing and gave me invaluable real-
world experience that I can apply to future endeavours.
26
Annexure 4
References:
"Indian male grooming market to grow at 25% CAGR till 2023." Business Today, 2020.
"The Rise of Men's Grooming in India: A Growing Trend." Business World, 2021.
"Sustainability and the Luxury Industry: Challenges and Opportunities." The Fashion Law,
2020.
"Digital Marketing Trends for Luxury Brands." Harvard Business Review, 2021.
27