Page 33 - 20 Futuristic Startups In India 2021

internal environment is the major
force that assists the organization to
thrive, even in the worst cases.

The scope of mere survival can be
expanded to a growth stage with the
right implementation of change and
its undisputable factors. However,
even this trend can be witnessed at
a large scale when you take a closer
look at some of the brands that
were able to generate more revenue
in contrast to the pre-pandemic era.
A more innovative and compelling
consolidation of CSR activities and
brand building was running the show
for the luxury brands. They made an
indirect proclamation to function for
societal welfare, sacrificing the gains
and profits. In order to preserve
their financial vigour, the privileges
available for these giants were
leaning on rigorous cost-cutting and
contentious layoffs.
If the pandemic chooses to
stand, not many of these luxury
brands will sustain their voyage
seeking enduring goodwill and brand
image. At the least, the market also
got to witness their favourite brands
paying for their past decisions on
stock keeping and vibrant marketing
efforts.

THE DIGITAL LEGACY
Ever since the brick and mortar
healthcare and well-being, which is stores turned out as a last resort
apparently the need of the hour. for the luxury brands to generate
If such a trend is going to continue revenue, they took refuge in the
till the near end of the pandemic, digital market space. Most of the
the markets will get to witness a brands were already experiencing a
collective relaunch of the prod- humongous amount of traffic in their
ucts from multiple brands. With digital space, while others joined the
or without the support from their digital revolution soon. Above all,
parent concern, the survival of the the major digital platforms selflessly
brands is the prime challenge they served as a medium to channel the
have to overcome as only time will re-tailored product and service
the impression they have left in the offerings, appeared more conven-
minds of its consumers. tional for the next sunrise.
THE FINAL WORD
BRAND BUILDING AMIDST THE Calling the sudden transformation of
PANDEMIC luxury brands a need of the hour just
The depth of their market base and because of the steps taken as part
a loud capital backup usually remains of a more societal and humanitarian
to be the strongest forte of the approach is indeed a debatable one.
luxury brands. In most cases, until Yet, at the same time, the sense of
and unless it incurs damage to its solidarity and public spirit ignited
internal environment, these brands by these brands deserves so much
are capable of tackling the external appreciation, regardless of their
environmental changes and adversi- commercial motives.
ties to a greater extent. The oper-
ational pace and the flexibility and
adaptability to the change by the

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