Miniatures and figurines have been on the priority list of licensors in Indian markets. However lack of awareness about such products is what is acting as impediment to growth of bobbleheads in India, said Emypreet Singh, Founder, Wowheads.
Talk to us about the journey of Wowheads.
We started our journey four year ago and now we have become the largest producer of bobble heads and miniatures in Indian market. We are providing complete production support to the renowned brands like Chumbak, Adlabs, ACK Media in Indian markets. Being crazy groups of entrepreneurs, we have introduced a whole new dimension of customized gifts by creating customized miniatures of people from remote places with their pictures, via self developed process and machinery.
What was the need to adopt licensing into your business model?
There is huge scope of likeliness miniatures and sculptures in Indian markets, either caricature form or realistic. Indian organized markets are growing that's where we project licensed merchandise to sell well under one roof. Reach-ability and visibility of products to every corners of Indian markets by online marketers, that's where we realized that famous characters can be spread among their fans hence need of licenses.
How has brand licensing benefited you?
Being aggressive movers for licensed merchandise, we hold some of very effective licenses like Reliance Big's "Little Krishna", Balaji creation's "A Flying Jatt", Vimanika comics and Amar Chitra Katha/Tinkle books. Brand licensing has helped us to gain market attentions from different markets based on various characters like mythology, comic heroes and caricatures.
Why do you think of licensing being an effective retail strategy?
Licenses give you the flexibility to attract particular group of fans and quickly target the mass audiences to establish your brand in no time. With Indian marketers becoming license educated, it make more sense to get license and then offer products for retails, as the licensed properties have some acceptance among non organized channels if it's price sensitive as well. 90 per cent of the offline licensed merchandise sales happen through modern trade only that has an inclination towards promoting licensed merchandise only.
What are your plans to scale up?
We are planning to increase the number of licenses based of famous personalities. Strategic plan is to tie up with top 14 licensors in the markets for designing and marketing their products. We are installing franchises PAN India, to reach possible connect points with the mass audiences and pitch the products/characters based of every mood of the visitors. Provide them memorable experience at our store by offering them whole new world of figurines, character arts, customization and caricature miniatures.
What are the challenges in your business?
Skilled artists, high royalty structure, limited organized market are some of the major challenges. Also low awareness and visibility for our kind of products is a major concern and markets are yet to be explored for efficient pitch points.
What character are more popular for bobble heads in India- home grown or global?
Superheroes are need of the hour. Indian clientele wants to feel character arts, collectibles and more Hobby toys. We are trend setters and will keep infusing more products for adult collectors. Even thought markets are accepting Indian characters and their bobble heads, but global characters are more dynamic and easy to sell.